Trustchain Lite

TrustChain Lite: Simplifying supply chain transparency and assurance with and effortless tracking from production to shelf through NFT digital twins. Trust made easy with aelf and Portkey.

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Inspiration

As a consumer, we know very little about where our goods come from. In our interconnected global economy, 70% of the goods that we consume have complex cross border supply chains. According to PWC, 30% of all drugs in the pharmaceutical industry are counterfeit. Without transparency and assurance in our supply chain, it is scary for consumers to have trust that the products they receive are safe and authentic.

The motivation behind TrustChain Lite stems from the understanding that traditional supply chains often fail to provide real-time visibility, leading to inefficiencies, risks, and eroded trust. Our vision is to create a transparent and assured supply chain management system, enabled by decentralized blockchain technology.

What it does (Key Features)

NFT Digital Twin

Every product tracked by TrustChain Lite is associated with a unique Non-Fungible Token (NFT) Digital Representation. This digital twin stores essential metadata, such as origin, destination, and the supply chain journey, providing a comprehensive and secure record.

The nature of an NFT recorded on the blockchain ensures an immutable record. This ensures the integrity of the information, preventing unauthorized changes or tampering throughout the product's journey.

Each NFT has a unique product page, which can be easily accessed through a QR code that leads to that URL, this would allow users to easily access the product page.

Two Way Exchange Smart Contract

To ensure that the Digital Twin is indeed a verifiable representation of the actual physical product, TrustChain Lite introduces a groundbreaking two-way exchange mechanism between each buyer and seller across the entire supply chain. When a product moves from one stage to another, the two-way exchange is a smart contract which ensures a secure transfer since both parties would verify the transaction before the NFT digital twin is transacted.

This process is digitally recorded, creating an unbroken chain of transactions on the blockchain. The Two-Way Exchange Mechanism also allows producers to pinpoint the exact point of fraud or irregularities in the supply chain.

User Authentication through Portkey Wallet

User authentication via the Portkey Wallet in TrustChain Lite offers a secure and streamlined entry point into the platform, ensuring that only authorized individuals gain access.

User Friendly Webpage

Our platform is a webpage that is intuitive and easy to use for users without any need for prior knowledge of NFTs or blockchain technology. It is plug and play!

Business Potential

There are many business benefits which could be harnessed from our system, here are some of them:

Supplier Perspective

  • Real time tracking and updates of their products
  • Reduced supply chain audit cost since they can just track them through our platform
  • Faster detection of anomalies in the supply chain
  • Comprehensive product recall during emergencies as they can track the upstream and downstream supply chains easily

Consumer Perspective

  • More willing to buy products with Trustchain Lite capability, because they are more assured of the safety and authenticity
  • Able to track their goods through Trustchain Lite
  • Able to see where their products come from by scanning the QR code at the supermarket shelves

How we built it

FrontEnd

We built the front end with next.js and deployed it using vercel. We also integrated the Portkey API with node.js which allows us to perform user connection and authentication with their Portkey wallet, we can see what NFTs the user owns, we can communicate with the Smart Contract, and also facilitate the transfer of NFTs.

Smart Contract

The smart contract is written in c#. When user A wishes to initiate a transaction, they can call a send method on the smart contract to propose a transfer. User B can then call view methods to see any pending proposals they have, and then call a send method to accept the ones he approves of. Only when both parties approve, is the transaction approved and the NFT digital twin transfered.

Challenges we ran into

It was difficult learning the aelf API as we were unfamiliar with it, and there were so many different components that we were having difficulties knowing which one to proceed with. However, with the help of tutorial materials and staff from aelf, we managed to make significant progress.

It was also challenging to plan out and write the smart contract as we were unfamiliar with the concept. However, with the help of unit testing, we were able to deploy a successful smart contract.

Overall, we also felt the time crunch, and our product is not fully polished as it is still a prototype.

Accomplishments that we're proud of

  • Creating and deploying a web app with multiple front-end pages
  • Integrating Portkey, enabling user authentication
  • Figuring out a way to view NFT assets through the Portkey wallet and displaying them on our dashboard
  • Deploying a smart contract successfully

What we learned

We improved our knowledge on blockchain and web3 technologies tremendously. Our research into other blockchain based supply chain products has been eye opening and allows us to further develop and refine the idea.

What's next for Trustchain Lite

We hope to make it into the next round with our prototype. Due to the lack of time, our frontend is not fully integrated with the smart contract. We hope to be given the chance to make final polishes and finishing touches to our product.

We also hope to be able to speak more with the aelf team to discuss the features for our product, such as how the smart contract is implemented and discuss further points of development, such as how to make our product and system more foolproof and secure.

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