Stratumn has launched a Blockchain-based software service to ensure easy and reliable traceability in critical business processes.
IndigoTrace is a plug-and-play software service designed to easily secure any business process, allowing better traceability of goods, assets and services. The solution particularly addresses use cases in the insurance, supply chain and trade finance sectors, where a single stakeholder holds the burden of proof vis-a-vis clients, suppliers, partners and regulators.
The service, which leverages the public blockchain networks, allows users to participate in any common business process from a computer, IoT or mobile device. Using secured private keys, they can interact with the process from any enterprise application that connects to IndigoTrace’s interface.
Richard Caetano, co-founder and CEO of Stratumn said: “We have designed IndigoTrace as a flexible and easy-to-use solution to help companies operating in sensitive sectors such as finance, banking, chemicals, agribusiness and pharmaceuticals better trace each step of a critical process to know who did what, where, how and when.
“At Stratumn, we see an increasing need for consumers, companies and regulators to be able to trace the movement of any good or asset and audit the status of a process at any given time and place. In a fast paced hyper-connected world, the ability to make, automate and prove strong business decisions is critical. We believe that the Blockchain technology has the answer to this need by providing a single and immutable source of truth, auditable by all parties involved in a finance or supply chain process.”
Back in 2017, the company closed a €8m Series A funding round, with commitments from Open CNP, Otium Venture, Nasdaq and Digital Currency Group. Launched in 2015, Stratumn offers network security solutions through its blockchain and cryptography technology, helping with securing and regulatory and compliance procedures.
The company improves customer privacy and data protection, while reducing operational and back office costs, with regulators able complete the audit process data in real-time.
Copyright © 2018 RegTech Analyst
Copyright © 2018 RegTech Analyst
