Press Release (ePRNews.com) - NOIDA, India - Jun 27, 2018 - Sofocle Technologies, a leading global Blockchain solution provider, conducted a PoC for an Oil Major, addressing the challenges of Track and Trace and counterfeiting in the Supply Chain of lubricants. This PoC was conducted covering all the aspects of Track and Trace, from the processing plant to the end consumers using sofoChain – a Blockchain based supply chain solution.
The client was looking for a solution to tackle the issue of counterfeiting, lack of transparency in supply chain and manual processes like promotion schemes management, territorial violation etc. SofoChain uses HyperLedger Fabric Blockchain with Smart Contracts to create trust and transparency in the supply chains.
Dr. Ravi Chamria, CEO Sofocle Technologies, said, “Our PoC with this Oil Major is another testimony to the fact that Blockchain is disrupting the supply chain and logistics domain. With this PoC, the client has been able to counter the issue of counterfeiting and manage various processes like promotion scheme management leading to better customer satisfaction.”
Sofocle, the winner of ‘Fintech Valley Vizag Startup Challenge 2017’ for most innovative Blockchain company has sofoChain as its flagship product and has been working for various industries like pharmaceutical, food supply chains, luxury brands, logistics etc.