![]() The transactions are relatively costless. ![]() ![]() The technology enables scalability as it caters for a high-volume of transactions in international trade.The protocol uses encryption and quantum-secure principles to ensure the highest level of security.Hence, there is no risk of having one entity in the middle who can either manipulate or take advantage of data. Thus, in a large ecosystem of users, there is no need to have a central database to collaborate. No centralised database - the technology allows for data producers to manage access privileges for who can see what.Provides immutability and accountability.What are the uses of the Tangle in data management? Because the Tangle provides immutability and traceability back to the issuer of the certificates, these can be stored and trusted and accessed anywhere in the world via a smartphone. We will likely see that authentication of various types of certificates will be one of the first wider aptin in global trade. With the Tangle, the risk of getting paid can be transferred to the buyer and their cost of capital, which is much lower than the small producers. To bridge this gap, the producers take trade finance loans with banks that provide them interests based on the risk profile of the small producers. Today, the cost of capital in developing countries is very high and producers normally wait a minimum of 6-12 weeks before receiving payments. What are the uses of the Tangle in global trade finance? The use of the Tangle as a data transport layer provides a single version of truth where everyone can update the status of consignment and everyone is accountable for updates, thus avoiding the multiple data silos within each actor. Tangle can assist in shortening the supply chain, creating efficiencies, reducing over payments and invoicing inaccuracies. How can the Tangle assist in improving the supply chain? This generates delay, inefficiencies and loss Actors are unable to automatically broadcast/receive notification of events to relevant parties.Multiple data formats are used and are often not compatible with one another.Information is delivered bilaterally and retyped into new systems with the introduction of errors and loss of data integrity and authenticity.Emails, phone calls and paper documents are the daily details of moving goods.What are the disadvantages of the traditional supply chain? Every transaction will have a unique trace on the Tangle, and this is how the system becomes trusted and so consumers will know that the product has to have been authenticated, and so counterfeit products will not appear on the Tangle. For example, pharmaceuticals, automotive spare parts, fashion and perfume. The Tangle technology enables the ability to authenticate original products from counterfeits. How does the Tangle deal with the issue of counterfeit goods? The Tangle provides the brand with a platform to create a mobile application easily accessed by the consumer who can scan a barcode on the product and see for example the following: In fact, food and fashion provenance are getting traction as the consumer wants to make sure the goods are ethically produced, and in some applications they can read a story about the farmer or food producer. Many consumers have become very attached to brands, especially if they’re ethical and have a great story. In what ways does the Tangle apply to ethical consumers?
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