Tech start-up Haidrun has launched its new enterprise blockchain platform targeted at the manufacturing supply chain industry. Haidrun’s private blockchain reduces costs, builds transparency and improves security by providing full end-to-end digital connectivity across an entire supply chain.
As a digital ledger, blockchain is able to record supply chain transactions between two parties, which cannot be altered without breaking the cryptographic signing of each block. Private blockchains also provide transparency in the supply chain, making anyone on the network accountable for their actions, along with traceability, real-time logistics tracking, electronic funds transfer and smart contract management. Processes including negotiations support and procurement can also be connected via blockchain to build trust and confidence with new suppliers, partners and colleagues.
The new Haidrun platform is a non-open source, flexible and scalable private blockchain, built on an advanced architecture that uses AI engines to help accelerate intelligent business automation and deliver secure and transparent transactions. Haidrun also removes much of the complexity of public blockchains, supports simple interoperability with third-party systems and provides a platform for trusted collaboration.
“Private blockchains are more suitable for enterprises and their supply chains for reasons of scale, accountability and cost, and can be run on-premise or as a Blockchain-as-a Service,” says Haidrun CEO and founder Jonas Lundqvist. “While blockchain is seen as a major disruptive technology for supply chains, the manufacturing industry is yet to harness the full potential of blockchain technology at scale. But unlike public blockchains where there is no entity in charge and anyone can interact with the blockchain, private networks retain control, eliminate illicit activities, provide a high degree of regulation and avoid variable costs and performance fluctuations associated with public platforms.”
“Our fundamental value proposition is to unlock the real business benefits of blockchain to provide the fast, secure, scalable and cost-effective solutions for digital supply chains and ecommerce,” says Lundqvist. “Blockchain technology stands to boost the global economy by $1.7 trillion in the next decade according to a report published last year by PwC and we believe that enterprise blockchain deployments will deliver much of these gains.”
Haidrun removes much of the complexity of public blockchains and ensures enterprise scalability with three core features: container technology, dynamic block sizing and a new advanced blockchain protocol, Larad, which uses a fast and efficient voting-based, consensus algorithm. Working together with the integrated AI engines, these features deliver the next generation of smart contracts and with standard REST APIs, easily integrate and interoperate with other enterprise systems, databases and blockchains.