Pegged Sidechain Technology Offered for Supply Chain Contract Instruments by Papros Inc.
Environmental management solution provider, Papros Inc. has announced that it is offering pegged sidechain technology for any and all supply chain contract instruments. This technology is designed to support distributed ledgers, distributed databases and distributed organisational governance. Papros is offering all of the variabilities including advanced XML rollups, searches and all needed reports, alongside advanced BOM based rollups and searches for substances, materials and products. The company believes that the technology will simplify the working of supply chains, allowing users to search for specific data and improving the efficiency of the system.
In a supply chain context, especially as it pertains to sustainability, economic factors often dictate that merkle chains and their hash structures are not all on the financial blockchain. However, using a combination of pegging, as well as recorded and stored hashes, Papros Inc. states it has been possible to use sidechain technology to supported distributed ledgers in an economic fashion. Using pegging to allow for authentication when needed to other hash structures.
With regards to compliance requirements, this enables suppliers and customers to be able to check their entire supply chain in a highly customized manner for compliance and other information. The degree of customization is dictated by the governance of the particular entity or entities who are stakeholders of the contract or instrument supported by the sidechain.
Dr. Nagaraj, Chief of Papros Inc., remarked: “Distributed data is good only as far as its source and genealogy are authenticable and secure. We having been at the cutting edge of offering this level of authentication using multilevel authenticable cryptographic signatures to product material declarations. Now, once again we are happy to offer the most advanced capability to the supply chain. This is about contracts and instruments that will be proven transparently, as it will be pegged to other merkle chains and blockchains”.