Author Topic: DAC Concept: Item certification  (Read 4782 times)

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Offline G1ng3rBr34dM4n

Emski, I really like the idea!  Specific to the industry of wine, we could really get buy in if we were able to get the Master Sommeliers on board.  I'm guessing this is a problem they're trying to solve, might be worthwhile to reach out and validate that hypothesis.


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Offline Chuckone

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This concept could basically be used also for a decentralized tracking system for delivery companies (UPS, FedEx, etc.), instead of maintaining huge and complex tracking databases...

Offline Empirical1.1

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Yeah I think this is along the lines of what I was just thinking of.

Rolex for example has $4.5 Billion revenue but it is an industry plagued with fakes etc.

How do you know your Rolex is genuine even with serial numbers?

If each Rolex serial number was also a token on a blockchain then you would just sell the 'serial number' token when you sold the watch. Only the genuine Rolex holder would also own the 'serial number' token on the WATCH blockchain.

Offline tonyk

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Oh boy. No all the counterfeiters and bootleggers know who came with the original idea to run them out of business  :)
Lack of arbitrage is the problem, isn't it. And this 'should' solves it.

Offline emski

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Consumption of the bottle (usage of the item) could also be implemented as blockchain transaction.
By burning the share .. literally :-)
More like buying rating tokens that can be used to rate the producer and any distributor/retailer who possessed the item at any time.

couldn't this be implemented on btsx already (except the high asset registration fee) .. which leads to BitShares ME (again) ..
Isn't this the whole idea behind coloured coins too?
Asset price of any kind. You shouldn't be charged that much for just using the system. Yes, colored coins have the same idea. However you don't need to use the bitcoin protocol/blockchain for that.

If you own the car token for my car .. you can sign a message to start the engines :)
I would go for a less dangerous functionality ... but yes, that is fun too.

Offline xeroc

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Consumption of the bottle (usage of the item) could also be implemented as blockchain transaction.
By burning the share .. literally :-)

couldn't this be implemented on btsx already (except the high asset registration fee) .. which leads to BitShares ME (again) ..
Isn't this the whole idea behind coloured coins too?

If you own the car token for my car .. you can sign a message to start the engines :)
« Last Edit: October 13, 2014, 12:59:41 pm by xeroc »

Offline emski

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We could use bitshares toolkit tech (with some modifications) to verify the origin of a product.

Lets see the following example:
We have a producer of goods - winemaker. That produces limited bottles of wine per year. The producer sells the wine to distributor(s), who deliver it to the retailers , where consumers buy it.
Currently each bottle has a serial number and the users could rely on producer's website to verify if the bottle is authentic. However this requires centralized bookkeeping and there is no proven track record of each bottle.

What I imagine:
The producer creates X bottles of wine (or any other items) and issues X named unique tokens on the blockchain. Each token represents a single bottle (item). Whenever the current owner transfers(sells) the bottle (item) to another entity the equivalent transaction is made on the blockchain. Seller can only sell once what he legitimately has acquired. Buyer is certain about the origin of the item as he is able to track the whole history on the blockchain back to the original item producer. In case of malicious intermediate (falsifying the real bottle (item) ) he could do this only once per authentic item aquired. Any buyer will be able to see the list of previous owners of the bottle (item) and locate and expose the malicious parties.

Consumption of the bottle (usage of the item) could also be implemented as blockchain transaction. Ratings could be added relatively easy on the blockchain ONLY from verified users that consume the bottle (use the item). Ratings could be tracked also per distributor or per retailer in order to avoid a producer who maliciously rates himself.

Thoughts?