RFID and Blockchain
Together Blockchain & RFID can bring changs to Asset Management in the supply chain by improving the efficiency and traceability within the supply chain. It will also introduce greater differentiation and innovation.
The objective of RFID is to link the physical world with the digital world by using the following process:
- Collect data from real-world objects
- Provide the data in form of meaningful information
Mostly IOT devices work with the help of Things & Sensors for gathering and tracking data, Things & Sensors (such as RFID chips) work together in various ways, depending upon the application and objective.
DreamzIoT blockchain solution for enterprise asset management provides efficient and reliable data exchange among partners for RFID validation of assets in a supply chain in real time
Since blockchain’s decentralized architecture lies an autonomous consensus protocol that relies on no central authority. This consensus mechanism facilitates agreement across a broad base community that immutability verifies the information stored on the blockchain. This enables the data written to a blockchain, cannot be changed, altered, or corrupted. In order to write or make alterations to the ledger, an individual/stakeholder will have to be authorized to utilize the system. When they make a change to the data related to a specific asset, they will stipulate the desired change and then scan the RFID tag to write the proposed change to the blockchain. In doing so, the system will identify the asset, when the change was made, who made it, and the data entry point.
Together with Blockchain and RFID, DreamzIoT developed the full proof asset management system in the supply chain.
DreamzIoT Implemented Blockchain & RFID based Enterprise Asset Management solution for one of the UK’s Leading Merchant Bank
DreamzIoT has partnered with one the UK’s leading Merchant Bank and has implemented the Blockchain and RFID based asset management solution for the bank’s subsidiary in brewery rental business to track and control the assets efficiently as it moves along the supply chain.
The customer wanted to achieve the following objective:
- Efficiently manage and control their 3.5 million assets spread across the UK
- Standardization and capitalization of assets for better efficiency
- Serialization of Assets for better control and traceability
- Track end-to-end journey of assets for minimizing counterfeiting and to reduce asset loss
- The client wanted to have a robust transparent system to share real-time data with all the parties involved
DreamzIOT together with Hyperledger based permissioned blockchain and RFID developed the asset management solution for the client in order to achieve customer objective, below diagrams depicts the high-level functional solution.
Key features of our Solution:
- Integration with current ERP system: Integration of ERP system with our blockchain and RFID based system to capture internal transactions
- Real-time Traceability of assets: Blockchain to capture asset’s coordinates, attributes and to make sure that there is an availability of asset information and capture asset lifecycle
- Reporting and Analytics: the customer is able to generate required reports in order to gain a comprehensive view of assets and their configurations in the field or warehouse and manage a wide range of physical information such as quantity, serial numbers, location, and usage
- Order Management: Real-time order processing for assets – the customer is able to fulfill and manage the order efficiently and effectively by
- RFID Integration: Direct RFID Integration with the blockchain based system to collect data from real-world assets
- Standard web app to scan QR and RFID and push data into blockchain system
- Standardization of Assets: standardization of the format of information to capture into the system via RFID
- Serialization of Assets: Serial number generation for an individual asset to create a unique identity of an asset
Solution Characteristics and benefits: