BriefTrace unveils it’s IoT blockchain integration module
BriefTrace unveiled its IoT Blockchain application at the recent Israel Pharma & Medical Logistics Forum. Building on its capacity as a to sign and send a blockchain transaction from any signaling device, Brieftrace demonstrated how it integrates with a pharmaceutical shipment thermo tracker, to go beyond the storage of tracking data and enforce contractual obligations associated with incentives and fines defined the thermos conditions of the shipped package. Brieftrace utilizes Ethereum’s smart contract to translate the shipping contract to a crypto currency transaction that is triggered by the actual shipment condition.
In a presentation made at the event by Yuda Swid, Operations & Supply Chain Manager at the Perrigo Pharmaceutical Company, stated: “BriefTrace was instrumental in Perrigo’s digital supply chain transformation strategy. While the driver of our relationship with BriefTrace focused on indoor location monitoring – BriefTrace demonstrated phenomenal value by delivering Blockchain capabilities to power no-touch transactions.”
In a follow-up Innovation event held at the DSV Transport and Logistics Company headquarters in Israel, BriefTrace VP Tal Meshulam presented his firm’s unique Blockchain capabilities and Smart Contract potential. The forum was well attended by leading pharmaceutical and logistics companies including Swissport, Bayer, Perrigo and Kuehne & Nagel.
Tal Meshulam, VP business development of Brieftrace commented “it is truly exciting to witness how blockchain transaction can become a part of our daily business, infusing reliability and saving time and money in the traditional ways we do business. I believe this is a first step within a large scale shift that shipping in particular and supply chain in general will undergo”
BriefTrace produces modules that integrate with IoT devices to turn them into a blockchain IoT sign and send device. Through it’s use of smart contract, the modules can go beyond the secure and validated management of data to the actual transfer of crypto currency.
Headquarted in Herzlia, Israel, BriefTrace has branches in Amsterdam and New York.
BriefTrace VP Tal Meshulam presenting Smart Contract at DSV Innovation event