The World’s First Blockchain and Smart Contract Platform for Micro Small & Medium Enterprises (MSMEs) Supply Chain Automation
Authenium is a massively scalable blockchain and smart contract platform. Combining Ethereum networks and proprietary high-speed synchronization technologies, Authenium provides support for massive scale blockchain deployment 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 owns a suite of cloud-based business applications running on massively scalable collaborative platform. Its worldwide subsidiaries use this platform to provide supply chain automation, small business management, community management, and payment gateway services.
In 2017 the group decided to migrate into blockchain-based architecture. It selected Ethereum as the base and implemented major improvements: developer-friendlier smart contract and virtual machine, high-speed messaging and synchronization, and massive data store.
In 2019 Vertesc christened the new blockchain and smart contract 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.”
Ethereum as Blockchain Building Blocks
Authenium uses Ethereum as its blockchain building blocks and augment it with proprietary high-speed synchronization technologies to greatly improve throughput and provide access to Vertesc’s concurrent serverless computing 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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