The TALL Group of Companies, a UK secure paper and electronic payment product company, has launched in the UK a chain of custody and transaction verification platform to provide real-time authentication and counter fraud. The ‘DocuChain Chain of Custody’ platform supports the validity of high-value transactions and mission critical processes.
The firm says the product which will help identify fraudulent transactions such as: fake pharmaceuticals and unapproved treatment pathways, bogus professional credentials, contestable titles to assets, money laundering, and the veracity of supply chains including the non-genuine parts being installed, such as in aircraft or oil rigs.
The Chain of Custody platform (patent pending) is called 4Trust and uses proprietary technologies under license from DocuChain Limited. 4Trust incorporates a range of technologies from DocuChain and its constituent members: Uqudo (identity and access management), NXP (NFC integrated circuits), Qadre (Plug blockchain infrastructure) and Trotec (laser engraving specialist). The TALL Group of Companies is the exclusive licensee in the UK and Ireland – and the founding member of DocuChain’s 4Trust Alliance, a partnership of 4Trust licensees.
Those using the 4Trust platform will obtain a smart polymer document produced by the TALL Group, which provides the physical, tangible record of the transaction, whose provenance can be authenticated in an immutable, external blockchain record. The document, described as a SmartPolymer Artifact, incorporates for fraud prevention laser engraved images, encrypted QR Codes and embedded intelligence in the form of NFC (near-field communications) integrated circuits, which link the certificate to the digital record of the transaction or entitlements in question. The provenance of the creation of the artifact and its related metadata (assets and activities including entitlements and privileges) are then stored in the 4Trust Chain of Custody. This correlation between the physical and digital records creates a singular “Chain of Custody” that can be validated in real-time using mobile and desktop applications, downloadable with every artifact produced.
It’s the ‘blockchain’ principle. Blockchain is like the internet in that it has a built-in robustness. By storing blocks of information that are identical across its network, the blockchain cannot be controlled by any single entity as it has multiple secure entry points and equally has no single point of failure; as a record of transactions and assets.
Philip Leone, Founder and CEO of DocuChain, said: “Legacy chains of custody are flawed and certainly not trustworthy, and the costs, to both enterprises and governments, are unacceptable. Our architecture provides four elements – two physical and two logical – which build upon existing document and trust systems, with authentications being conducted in real-time using Android, iOS and Windows apps. 4Trust’s innovative platform delivers and an immutable “Chain of Custody” for business performance, relationship management, governance, entitlement management and asset custodial services. Working with the TALL team has been very gratifying – they understand the dynamics and value of custody and how real time authentications engender trust, protect and value Identity, and restore sorely needed equities to global transaction domains.”
And Martin Ruda, Group Managing Director of the TALL Group of Companies, said: “We have an enviable position supplying securely printed paper documents worldwide. Now, as the first licensee of the DocuChain Chain of Custody platform, the TALL Group will lead the UK and its global customers into a new era of indisputable provenance that can be authenticated in real-time. We are extremely proud to have played a key role in the development of this important and ambitious solution, which we are sure will help to shape the future of how vital ownership and provenance information and records are stored and validated.”
Pictured left to right are Martin Ruda and Philip Leone.
