Ensuring Credibility in Manufacturing: Introducing CertiChain
CertiChain uses private smart contracts to help large retailers like Nike ensure credible and confidential ESG compliance with offshore factories. Seneca's blockchain infrastructure enables a secure and real-time process, offering a reliable alternative to traditional auditing methods.
Large retailers, for example Nike, can ensure the credibility of their manufacturing process and also address compliance issues when working with partners and offshore factories.
In this proof of concept, CertiChain allows factories to provide their customers (e.g. a company like Nike) with proof that they are operating ethically without sharing sensitive information that could reveal input costs or the details of other customers. Instead, structured and unstructured data from everything from payroll to source of supply is credentialed and processed by private smart contracts. The private smart contracts analyze aspects of the data and return results that do not reveal sensitive information
The key issue with ESG compliance is that it is only as good as the conduct of the last audit which at best is only a review of a sampling of data. And real-time information requires complex integrations with no easy way to protect sensitive information. CertiChain takes advantage of Seneca’s infrastructure to enable a certain, frictionless process.
At Seneca, we believe in the transformative potential of blockchain technology and are committed to building solutions that solve real-world problems.