GearChain, a silicon valley based company with a new blockchain and DApp for the supply chain industry, has announced its plan to revolutionize inventory and supply chain management by providing fast, affordable, and reliable services.
GearChain harnesses the power of barcode scanning to make an impact on how companies manage their inventory and supply chains, which is a $4 trillion dollar industry in the US alone. The barcode scanning based blockchain technology is unique because it allows you to track items from the point of manufacture to the point of sale. In addition, decentralized applications are simple to use and have low maintenance costs.
What is GearChain
GearChain is a fast, affordable, and scalable platform that leverages the strengths of multiple blockchains to create a robust ecosystem in SCM. GearChain’s vision is to change the status quo and lay down a standardized universal supply chain protocol that is efficient and affordable.
This is achieved by building a trustless protocol and a decentralized ecosystem by leveraging multiple blockchains to create a reliable inventory system in which all the intermediaries can participate. The blockchain is immutable, so one can be sure that the data shared is untampered since being recorded.
Key differentiators of GearChain
There are a few differentiators that distinguish GearChain from other supply chain or inventory blockchain projects.
GearChain is an open, public, permissionless blockchain SCM/inventory system that anyone can participate in, rather than the private and exclusive SCM/inventory blockchain systems used by other projects. Individuals, small businesses with one warehouse, and large businesses with 3/4PLs can all participate in supply chain projects using GearChain.
With GearChain’s decentralized inventory app builder, anyone can build their own inventory system based on blockchain technology. Inventory systems can be developed just like Google forms, with inventory specific form fields for stock quantity, asset status, timestamps, category, GPS coordinates, and photos, among others.
Admin users can share blockchain transactions with suppliers, suppliers, and shippers, who have unique levels of permission, once a project has been created. It does not require any coding and can be created quickly.
Using a smartphone as both a barcode reader and an IoT device for inventory management, it is both affordable and simple to use for anyone involved.
A Supply Chain that can be extended to NFT
GearChain DApp saves time by simply updating the essential inventory data upon barcode scanning. Upon submission of data, a location of physical goods is automatically recorded with GPS coordinates and can be viewed on Google Maps.
In addition, users can take a photo of physical goods and prove the genuity and ownership of physical assets using NFTs.
For example, a warehouse clerk may photograph valuable items such as artwork, jewelry, antiques, and submit them to the blockchain as NFTs, thus physical assets can be ‘tokenized’ and traded, making it more valuable.
A Supply Chain that can be synced with Spreadsheet
Whos’ behind this project?
Harry SY Jung, a GearChain project lead, said “Through blockchain, all supply chain participants can receive instant updates when asset status or restocking value changes, significantly reducing verification and networking costs.”
He previously created an inventory app builder based on Google Sheets that attracted over 1 million users. Now it is evolving into web3.0 technology as GearChain. This initiative is supported by a group of experts from various fields to ensure its success.
Gearchain aims to speed up and scale up this project by initiating a utility token sale with a limited number of token sales, reserving upto 2 billion tokens for this purpose.
The first rounds of sales will start soon, for more info visit https://gearchain.io
GearChain project (Company name GearApp Inc) is based in San Jose, CA in the United States. GearChain was founded by Harry SY Jung. GearChain originated from GEAR NBS with proven concepts and the founders bring together with years of professional experience, have successfully founded various companies, and bring excellent expertise from the industry and IT sectors.
Contact: [email protected]
Address: 453 W San Carlos St., Unit#2 San Jose, California 95110 USA