Over the years, since the launched of the first successful blockchain project (BITCOIN) in 2009, furthermore, there has been a rapid growth in the industry as most companies now adopt blockchain technology in quest of using this advancement to solve the day to day challenges we faced in our society on daily basis. We have seen the launched of fascinating projects those with great technological innovation/advancements, and we are benefiting from these projects up-till date, e.g the ethereum smart contract, blockchain is indeed a game-changer.
Notwithstanding, most of my readers here must have heard of Authoreon, dated back in 2017, whose primary aim is to distribute a Traceability system, Authentication system, Verification/Certification system, and Authorization system and more for the supply chain industry.
As a reminder, I will like to take our mind back to 2017-early 2018 as it was speculated by most blockchain/crypto analyst’s all over the media that most blockchain project which were launched during those period (2017-2018) will fail, as some will not even stand up to a year, while some will manage to make it through, of which most of these failures are recorded as a result of the team behind such projects, as most project teams do not understand the full concept of blockchain technology and other challenges which they didn’t prepare for.
Mismanagement:
It’s good to think big but unwise to start big! Most project team tries to gain media attention starting from the beginning of the launch their project, even before the launched of its main products, thereby spending a lot of funds in creating hypes, making false promises to investors, funds which could have been utilized properly to develop a product, are been used for hypes, and they end up creating tension for themselves because of the huge demand and pressure they get from investors and supporters, which they termed to meet up with, and in some cases they end up going bankrupt even before the launch of the main product.
Misconception:
Most project team believes that blockchain technology is the answer to it all and that nothing is impossible once utilize this innovation, yes indeed blockchain is a game-changer, but we cannot deny the facts that there are limitations attached to it. The early we discover these limitations the health our project will be. Limitation varies and it depends on the type of project you’re planning to launch on the blockchain, before launching a project, one thing to look out for is the possibilities surrounding the project, how will blockchain manage the project, how will the flow chart look like? These are few of those things most project team considers that lead failure of their project.
Communication:
Communication they said is power, the ability for a project team to build a mutual relationship within it investor/supporters depends on it communication tactics, as this is something most fail project team refused to look into, Most project team leave there investors and supporters in the dark immediately after the completion of the funds raising, with the mindset of "we are busy developing our product" not putting into consideration that it’s this same investors money they are using for the developing the product they are using as an excuse for their lack of communication.
If you have been following Authereon right from the beginning of its project launch, with sincere heart I own you a bottle of beer for we have come a long way! lol..
Just like every other blockchain project that was launched in 2017 with one particular aim of solving our day to day problem, while some had failed, Authoreon is proud to be among the leading ones.
Authoreo project team has been busy developing its product, (i.e. traceability system, Authentication system, verification/certification system, and Authorization system for the supply chain industry), while doing these (developing products) they never neglect the community of the investors and supporters, a lot has been over by the team, be commitment and management, the Authoreon project management team are on forefront. One thing that keeps me wondering is how they managed to make it this far, we have seen lots of projects that raised millions of dollars, that could not produce a working product even with the millions raised, making investors loss million of dollars every now and then because of mismanagement. Authoreon is an eye-opener, an example of every project team.
During the Authoreon Initial Coin Offering (ICO) which was conducted dated back in 2017, the team managed to raise $1.5M, which was not even up to the soft cap of the most failed project out there. For you reading this, One question that will probably be running through your mind now, would be how they managed to make it this far with such amount ($1.5M), and the answer to your question, is just a world “MANAGEMENT”
As an investor the first thing I always look out for in a project is the management team behind such project, a project can raise 100s of millions of dollars, but I tell you, if there’s no good management team on the ground, such project is doomed to fail.
Now enough of all the buzz, let’s talk about the Authoreon Dapp Released,
What is a Dapp?
A decentralized application (DApp, dApp, Dapp, or dapp) is a computer application that runs on a distributed computing system. DApps have been mostly popularized by distributed ledger technologies (DLT), namely the Ethereum Blockchain, where DApps are often referred to as smart contracts. Wikipedia
Supply Chain Verification Problem
There are different activities involved in the supply chain industry. Such as the agricultural sector, however, the industry does not seem to be transparent. One cannot verify the activities of each sector involved. From the extraction of raw produce to the distribution stage, there is little or no way to check the activities of distributors, transporters, storage facilities, traders, producers, and even retailers. Hence, customers find it difficult to trace the origin of the distributed products. With the number of sectors involved, the current supply chain cannot ascertain the credibility and ranking of the products. Quality is only dependent on the brand and the public figures attached to the brand.
The Authoreon Nanolense Verification Hardware Extension will managed, reduce and control the rate at which counterfeited product are spread all the globe.
With Nanolense, Product buyers/consumers can verify original products against counterfeits based on its micro-scan and corresponding A-ID.
Trust issues
It is of no doubt that supply chain industry suffers from the issue of trust. By operating a centralized administrative system, all information is stored in a single database. Few people have access to it. By storing global information on a single database, there is a high tendency for hackers to have access to global information. More so, hackers can gain access to the account information of stakeholders, giving them access to steal funds. The Centralized computing system has trust issues, cases of bribery, social engineering as well as hacking attacks.
Authoreon Self-Managed Identity
The A-ID will enable users to store all their personal data securely on the blockchain while granting selective access to verified and authorized instances only. The personal A-ID not only serves as a digital twin type passport of the modern age, it also enables a self-managed identity with the user being in charge of his/her data.
The supply chain industry is so broad that it involves different sectors. Right from the initial stage to the last stage, too many intermediaries are involved. With a traceable network, there will be checks and balances amongst all intermediaries. Right from the source, product production will be traced using the smart contract until it reaches the final consumer. These and more feature you can get from the Authoreo Dapp which has been made available on
Google Play Store !
and on Apple Store
You can also get more details about the Authoreon DaPP here
Conclusion
Authoreon is all about protecting Authenticity & Trust. The Authoreon A-ID enables you to verify, authorize, authenticate or certify any identity or asset – fast, seamlessly and securely on the Blockchain.
Website: https://www.authoreon.io/
Bitcointalk forum: https://bitcointalk.org/index.php?topic=2125495
Whitepaper/Document: https://www.authoreon.io/Authoreon-Whitepaper.pdf
Facebook: https://www.facebook.com/authoreon
Telegram: https://t.me/joinchat/GbnEcEkKDtrf82IPVad7iQ
Twitter: https://twitter.com/Authoreonio
Medium: https://medium.com/authoreon
Content Writer Zalixo
Bitcointalk profile: https://bitcointalk.org/index.php?action=profile;u=2110265;
