What is faizod.ReactiveLedger?
faizod.ReactiveLedger is a closed system based on Blockchain technology, in which changes are made quickly and transparently. This provides the following benefits to supply chain and logistics processes:
- High automation
- High flexibility
The Blockchain Train
The showcase illustrates where and under what circumstances faizod.ReactiveLedger can be used. In the system a train passes through various stations, showing a number of different scenarios.
The following components are present in the system:
- Switch point
- Energy station
- Switch for electricity
- Wallets for different components
Tags are found on the train, the containers, and the engines. The system also has digital wallets for the components.
How does faizod.Blockchain-Gateway work?
Blockchain is an unchangeable, highly available and distributed database, in which data are stored in a way that is audit-proof and protected from external access via encryption. faizod.ReactiveLedger is resistant against attacks, providing tremendous security to process execution.
Additionally, faizod.ReactiveLedger reacts autonomously and independently to changes in the system by subjecting all system participants to pre-defined rules. All nodes and peers update one another while maintaining transparency.
Where can faizod.ReactiveLedger be used?
In the Blockchain, a chain code is used to define assets and set up contracts. This allows for precise instructions to be formulated and executed automatically.
When information about assets is collected, it is written into the Blockchain chronologically and without missing information. Combined with Smart Contracts, this data executes if-then conditions, allowing for automatic settlement of asset purchases or sales. This means that asset management is completely autonomous without the need for third-party supervision.
Common security issues are often caused by user errors or request overloads. If one of these problems affects a node in a Blockchain, the others continue to operate. The nodes are in constant contact with one another. Self-monitoring makes security less time-consuming and costly for organisations.
Blockchain is able to record data traceably because all processes are documented precisely and chronologically. The database is not managed by any central authority, so manipulation is nearly impossible.