Blockchain for traceability?
Blockchain has been designed as a decentralized registry, and the way it operates makes it transparent, secure and practically impossible to corrupt.
It runs on machine-to-machine operations, and bases its reliability on the consensus of a majority of participant nodes from a descentralized network verify and certify the information gathered from the involved systems.
The technology allows a higher data verification frequency, and by being automatic, it doesn’t require from third parties to transcript the information, reducing considerably the percentage of error on the data.
Blockchain can be considered as a ledger, or a database where only new information can be added without modifying the one that is already there. New data is grouped in blocks and then added to a chain successively.
The existing data on the blockchain can only be amended by adding new information, thus the original information will always remain safe as traceable data with a timestamp registry of the information, which can be verified at any moment.
The blockchain technology is based on a network of nodes that process information and adds it to blocks on a sequential registry. Being Sello Sol a dedicated blockchain, the security of the information contained does not depend directly to the network size.
As the process is based on an established mathematic formula, and not on the processed information itself, the block generation speed can be adjusted to be as fast as needed without jeopardising the data security.