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WELCOME ABOARD – 1Trueid e OTICHAIN

summit

The space dedicated to the presentation of the new Partners of the Blockchain Revolution Summit kicks off within our newsletter, with diffusion also on our social channels.

“Welcome aboard” wants to be a way to let the public know who will animate the Summit, which will be held in Bolzano on 29 and 30 November, but above all a special thanks to those who contribute to the Blockchain Revolution project, combining Blockchain Dissemination with constant commitment for all activities that promote sustainability.

 

Today we want to present 1TRUEID and OTICHAIN , the sustainable face of the Blockchain, which arises from a long path of awareness, authoritative and significant projects, international recognition and ambitious challenges, undertaken to respond to the set objectives aimed at creating a Blockchain that guarantees mass adoption, democracy, low costs.

 

The journey, which leads to the birth of OTICHAIN ​​begins, just think, at the end of the 90s, in distant lands, among the pearl crops of the Australian Arctic.

Faced with the growing mortality rate of mother-of-pearl, mainly due to climate change, one of the founders of OTICHAIN, when it was still unthinkable to approach the problem of sustainability, felt the need to develop a safeguard protocol for this resource, easily manageable with native communities, supported by local government bodies, which certified the supply chain, not only as a guarantee for customers, such as luxury clothing brands, high jewelery and watches, but for all the stakeholders who made up the supply chain, and before all of the natural ecosystem itself, where the raw material originated.

Thus begins a path of awareness, aimed at creating an environment of trust to communicate to customers the fact that they are faced with a sustainable, traceable supply chain, through which they can declare their commitment in the field of sustainability in its broadest sense and credible.

Thus, the patented TOP (Tracking Original Product) project , released in 2009, is developed, that is a private DB infrastructure, a sort of distributed register, where the various interpreters of the supply chain identify the various lots through a digital identity based on RFID technologies. , to follow them in the various changes of state.

TOP can be considered a primordial form of Blockchain, born while Satoshi Nakamoto started talking about p2p, consensus, trust.

TOP, of course, evolved, aware of the need to strengthen digital identity in terms of registration, identification, solidity of architecture and software, until the birth of 1trueID , a company specialized in digital identity, whose patented protocol supports companies in communicating their values, in telling their story, in linking producers, logistics, companies and their end customers in a unique way, giving life to a real change of ownership that is not only ideal, but effective.

1trueid understands the need to structure all this in a strictly public blockchain, but none of the existing ones meet the pre-established requirements and needs highlighted in the project.

This “void” pushes 1trueid to create its own blockchain, public, proof of stake, OTICHAIN, to achieve the following objectives:

  • Track and authenticate the originality of the product
  • Create unique, non-replicable, non-copyable, non-modifiable objects with low creation and handling costs. OTICHAIN , in fact, produces the first Patent Non-Fungible-Token (NFT)
  • Guarantee a custom engagement tool
  • Manage inventory and warehouse, also providing a tool for those who do logistics
  • Low costs
  • Mass adoption
  • Having a blockchain that does not require a lot of computing power, large structures with lots of machinery and relative power supply and therefore a proof of stake consensus protocol
  • Ensure that customer and product data are always safeguarded and linked to whoever entered them

 

OTICHAIN ​​is based on the UTXO model of Bitcoin, a choice dictated by the security and inviolability demonstrated in recent years by the system, to which an EVM, an ethereum virtual machine, is integrated to create rules, tokens, smart contracts, DAPPS.

Result: a public, democratic, performing blockchain (to date 11,000 transactions per block), with truly negligible transaction costs, sustainable, where anyone can become a validator node with OTICHAIN ​​BOX

Moreover, thanks to an app, downloadable from the Appstore and Google store, it is possible to scan the product, check if it is original or not and read its history, but ESPECIALLY transfer the digital identity of that product to your wallet and then become the owner. of the product itself.

This important evolution allows in case of theft to demonstrate that that product is owned, certified in a certain and unreachable way by the blockchain, but there is also, for example, the possibility of selling that product in a second-hand market, fully preserving the value of the property.

This and much more is 1trueid and its OTICHAIN .

Come and discover its ecosystem, its history and its solutions on 29 and 30 November, in Bolzano, at the Blockchain Revolution Summit, the event that prepares you to live the future!

Article taken from: Blockchain Revolution