First Socially Responsible Supply Chain Based Blockchain Platform To Add AI Layer for Accountability

Jun 07, 2018 at 09:30 // News

Globalization has always been considered one the greatest things to happen to the industrial and trade sector. Goods are sourced from any part of the world these days. Taking only a few days, a small package from the far east can reach any city in Europe, the Middle East, or the Americas.

Yet, due to globalization and a huge influx of orders, there has been a start of price wars in an effort to achieve maximum sales as possible. This has led to manufacturers to cut corners. Unethical outsourcing, violation of labor laws, wage exploitation and harassment of employees are becoming issues that companies need to address and subsequently show to customers and stakeholders that the products they are using are ethical from start to finish.

Namahe, Using Blockchain To Run Supply Chain Transparency

Namahe is a fintech startup that is bringing supply chain and resultant audits for transparency to the blockchain. By leveraging on the immutable nature of the technology, the company gives the users the ability to tag their products, from manufacturing level, right down to the sales store it is placed in. This allows customers (and any stakeholder, for that matter), to verify that the product and its materials are acquired in an ethical manner.

Brands and companies that will adopt transparency and self audits through Namahe will show full transparent nature of their business, increase their image, avoid negative publicity, increase customer loyalty and save money on audits.

Using AI To Spot Inconsistencies

Namahe goes a step beyond the simple recording of supply chain information on the blockchain for transparency. With usage of advanced machine learnings and artificial intelligence from its partner Adqura, the platform will be able to detect variations in the supply chain and locate anomalies.

With Adqura’s help, a leading provider of real time decision making tools and solutions, the AI will determine whether the error detected is a random generation of an attempt at fraud. With this, it will flag the data for further analysis by the brand in question and a team to ensure that exploitation at all levels is mitigated.

The artificial intelligence will gain accuracy and efficiency over time as it automatically fine tunes itself, expected to eventually reach a level where it will act independently, responding to issues and deciding consequent steps much faster than that humans will be able to do.

Tokens of Transparent Supply Chain: NMH

NMH is the ERC20 compliant token of the Namahe ecosystem, where brands and companies on the platform will be able to acquire supply chain and auditing services. The token currently in its public token generation event. Backers can invest in the tokens after completing their KYC.

The Namahe token is available at 1 ETH = 1000 NMH until the event ends, at 31st July. Minimum of 0.25 ETH must be funded to be eligible for investing. The event has a soft cap of 4,000,000 USD and a hard cap of $30,000,000.

For more information on the transparent supply chain platform, visit their website.

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