The World’s First Blockchain and Smart Contract Platform for Micro Small & Medium Enterprises (MSMEs) Supply Chain Automation
Authenium is a full-stack decentralized application platform. It provides support for massive scale blockchain deployment designed for billions of users while ensuring privacy, security, and data authenticity. Its smart contract technologies are developer-friendly and portable across countries. They are used for developing mediator-free trust commerce applications.
Vertesc develops massively scalable collaborative platform and suite of cloud-based business applications running on it. Its subsidiaries use this platform to provide supply chain automation, supply chain finance, small business management, and payment gateway services.
In 2017 the group decided to migrate to blockchain-based architecture. It launched new R&D programs to build scalable blockchain network, analyst-friendly smart contract, high-throughput secure messaging, decentralized data store, and decentralized authorization.
In 2019 Vertesc christened the new platform as 'Authenium'. Today Authenium is operational and serving digital businesses worldwide.
Authenium is one of Vertesc's collaborative solutions for Micro Small & Medium Enterprises (MSMEs).
It has proved to enhance data reliability, security, and privacy while reducing operating costs at the same time. Industrial automation has been the ace card of large corporations. Industry 4.0 implies a risk of MSMEs being further left behind in low-efficiency operating methods. Authenium is here to change that. Our vision is...
“One day MSMEs around the world will fully benefit from industrial automation, become more productive and competitive, provide more jobs, and increase welfare.”
“We fuse concurrent serverless computing, high-availability data store, high-throughput distributed messaging system, and other cloud platform elements into massively scalable computing power.”
Scalable Blockchain Network
Authenium implements proprietary blockchain constructs using scalable pBFT-based concensus algorithm, augments them with proprietary high-speed synchronization technologies, and connects them to Vertesc’s and high-availability distributed data store.
Advanced Cryptography for Maximum Privacy and Data Security
Authenium employs Keccak-256 hashing algorithm, Elliptic Curve Diffie-Hellman for key exchange, Elliptic Curve Digital Signature Algorithm, AES-256-CTR parallel block cipher, and Argon2 password hashing. These are the most advanced cryptography algorithms endorsed by the U.S. National Institute of Standards and Technology. They have proved to be unbreakable.
Smart Contracts to Automate Procurement Processes
Authenium smart contracts auto generate digital purchase order, invoice, delivery order, tracking, and confirmation, payment instruction, accounts receivable, and accounts payable. Authenticity of approvals is guaranteed with cryptographic digital signatures seeded with PIN, password, or fingerprint on smartphone. Maximum automation is obtained from machine-to-machine auto approvals orchestrated by networks of smart contracts.
Smart Contracts to Settle Heterogeneous Payments
In an ecosystem with diverse types of players and deals, each payment specific arrangements and taxations can be defined in Authenium smart contracts. Upon a successful transaction, every party in the ecosystem will be compensated with the right calculation of prices, discounts, rebates, and taxes. Payments will be made on the right day according to the payment terms. E-money and payment gateway partners are then called to execute fund transfers among bank accounts or e-wallets.
Dec 20, 2019, Authenium and Agenia Complete the World’s First Smart Contract-based Supply Chain Automation Transactions. Read more.
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