The Technology

Blockchain technology has emerged as a promising solution for eliminating fraud in various industries. The technology's unique design makes it nearly impossible for fraudsters to manipulate or falsify cable identification data stored on the blockchain. This is because each block in the chain is linked to the previous block through a complex cryptographic algorithm, creating an immutable and transparent ledger that cannot be altered without the consensus of the network.  

By using blockchain technology, CableDNA ensures
that microdotted cable identities are impervious to fraud.

Decentralised Storage

One of the key benefits of blockchain technology is its decentralization, which means that there is no central authority or intermediary that controls the network. Instead, transactions are verified and recorded by a network of nodes that work together to maintain the integrity of the blockchain. This makes it virtually impossible for fraudsters to manipulate the data, as they would need to control the majority of the network in order to do so.

Absolute security

Blockchain uses a shared and immutable ledger that can only be accessed by members with permission. Network members control what information each organization or member may see, and what actions each can take. Blockchain is sometimes called a “trustless” network — not because business partners don’t trust each other, but because they don’t have to.

This trust is built on blockchain’s enhanced security, greater transparency, and instant traceability. Beyond matters of trust, blockchain delivers even more business benefits, including the cost savings from increased speed, efficiency, and automation. By greatly reducing paperwork and errors, blockchain significantly reduces overhead and transaction costs, and reduces or eliminates the need for third parties or middlemen to verify transactions.

With distributed ledger technology, permissioned participants can access the same information at the same time to improve efficiency, build trust and remove friction. Blockchain also allows a solution to rapidly size and scale, and many solutions can be adapted to perform multiple tasks across industries. Blockchain for business delivers these benefits based on four attributes unique to the technology: