Methinks many are unaware of the bits-n-pieces that comprise a block chain.
First I've seen YOJ talk about "Pro0f-of-Existence". This is yet another API available within blockchain - via an open source project delivered as an online service - allowing for storing the hash of a file in the Blockchain so that anyone can certify that the file existed at a specific time and has advantages such as:
- Certify the existence of the document (between parties) without requiring a central authority (like a notary public in the non-digital world)
- Shows data ownership without revealing actual data.
- Document integrity.
- The "proof" can't be erased or modified by anyone
Why is is important ? My bolding
Because as YOJ say in the release
"...Proof of Existence is a highly desirable operating function for global logistics as it becomes an expectation of stakeholders to ensure trust and accountability as well as enabling a company to protect themselves from hacking or tampering..."
YOJ also notes their live testing to COMMERCIALLY offer the service this Qtr.
The questions were asked earlier in the thread
- Didn't they have blockchain integration
- What was wrong with the old one?
Well YES and NOTHING
This is technology and rapidly changing and evolving technology. Blockchain is far from even being fully specified, let alone developed (think of Blockchain as a database - even Oracle is still developing and releasing new versions of the Oracle database 30 odd years after its initial release). Expect to see many many more of this type of announcement as YOJ develops and enhances it solutions.
Also note the areas of focus for YOJ - Procurement, Processing and Provenance - YOJ trying to remain as "horizontal" as possible to make itself as attractive as possible across the supply chain (and let "sector" smart contracts do the specialized industry stuff) I think.
(20min delay)