Blockchains are an emerging technology pattern that can radically improve banking, supply-chain and other transaction networks, giving them new opportunities for innovation and growth while reducing cost and risk.
It is a shared public ledger. It uses the Blockchain Technology for keeping the transactions highly secure. The blockchain is a list of blocks that form the database in which transactions are written in an append-only manner. The Miners mine the Blockchain Solutions to create new blocks.
Customers can create contracts which are embedded in the code. Hence, whenever the code runs the contract attached to the transaction is executed. Consensus systems with a group of peers in the network ensure that the transaction is valid and on acceptance of majority, the contract is executed.
EIL Global has developed strong capabilities in emerging technologies, with a particular focus on IoT and Blockchain solutions tailored to industry-specific needs. Our innovative Blockchain offerings are designed to address real-world challenges across key sectors, enhancing transparency, efficiency, and security in operations.
Currently, we offer three powerful Blockchain-based solutions:
1. Quark – A comprehensive logistics control tower management platform that enables end-to-end visibility and tracking across the supply chain. Quark helps logistics and operations teams make data-driven decisions, optimize resource use, and enhance overall supply chain performance with trusted blockchain-backed records.
2. Axis – A specialized lifecycle management solution for tools, dies, and moulds, Axis streamlines the tracking and maintenance of critical manufacturing assets. The platform can be extended to manage component supplies and includes integrated bill discounting modules that link directly with vendor payments and banking systems, improving financial efficiency and vendor trust.
3. XACT – A blockchain-enabled bunkering solution tailored for the maritime industry, XACT ensures secure and transparent refuelling operations. It offers verifiable fuel transactions, reduces fraud risks, and supports real-time monitoring of bunkering activities, making it ideal for shipping companies looking to digitize and secure their fuel management processes.
Possible to group all tools & dies required for manufacturing specific components through the system. Will help in the planning process, reduced machine Blockchain Solutions downtime and improve customer delivery. All stakeholders, Toolmakers, Component suppliers can track & trace all the 6000 tools & dies on the system. 100 % fool proof, no pilferage and stock out.
ACCESS TO THE SHARED LEDGER IS PERMISSIONED – Only authenticated parties get access to the ledger and permissions are configurable. The benefit is that ledger access can be controlled so that only parties that you want to access it can do so. The shared ledger is replicated and distributed; every permissioned participant gets a copy of the same ledger. The benefit is the increased Blockchain Solutions transparency of information.
Only those parties with separately provided security certificates can un-encrypt transactions. This means that transaction details remain secure and unreadable to all but the transaction’s explicit stakeholders
Sets of transactions are grouped up into blocks and the blocks are then written to the ledger. Each block also holds the hash value of the previous block; creating a linked chain of blocks that can’t be changed. This enables assets to be traced back to their origin through every update stored in the transaction record and linked by the chain. Thus the transactions are Immutable.
Participants in the business network agree that the shared ledger is the single source of truth or System of Record, which brings the benefit of fewer disputes about discrepancies in records of transaction details between parties.
