Multi-Party Dashboard Distributed Ledger Data Integrity
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Solution Overview
Problem
Current systems fail to effectively share and update electronic records containing event data and documents across different parties involved in business processes, leading to incomplete or invalid data, and lack of certainty about data validity and completeness.
Innovation Solution
A system and method for creating, sharing, updating, and storing electronic records using distributed ledger technology, allowing multiple parties to access, edit, and validate event data and documents in real-time, ensuring immutability and transparency.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Loss of information
If event data and documents are shared through central databases, then data sharing is enabled, but data validity and completeness cannot be guaranteed
Solution Approach 1:
The system implements feedback mechanisms where parties can validate and verify shared data. The distributed ledger allows participants to receive and confirm data updates, ensuring that data remains valid and complete through continuous feedback loops among all parties involved in the process.
Solution Approach 2:
A distributed ledger serves as an intermediary between central databases, enabling data sharing while maintaining validity and completeness. This intermediary layer ensures that data cannot be altered without consensus, providing cryptographic proof of data integrity and preventing tampering.
2Adaptability or versatility
If system interfaces are created for data sharing between databases, then wider data sharing is enabled, but implementation cost becomes prohibitively expensive
Solution Approach 1:
The distributed ledger provides a universal platform that can interface with multiple different database systems and organizations without requiring separate custom interfaces for each party. This multi-functional approach enables widespread data sharing while avoiding the need for expensive, complex point-to-point integration solutions.
3Ease of operation
If event data is stored in central databases, then data storage is centralized, but access for multiple parties is limited
Solution Approach 1:
The system segments data storage and access rights across multiple parties in the distributed ledger. Each party can access and operate on specific data segments relevant to their role in the process, maintaining ease of operation while enabling broader multi-party access without requiring a single centralized database structure.
Data Source
AI summary
Systems and methods for supply chain management are provided. The systems and related methods create, share and allow updating of electronic records containing supply chain event data and supply chain documents relevant to the execution of supply chain processes. The system and related methods further allow the storing of supply chain event data, supply chain documents, electronic records of supply chain processes and summary files of electronic records of supply chain processes on one, two or more distributed ledgers.