Company: iov42
Website: https://iov42.com/
CEO: Dominic von Trother Taylor
About iov42
iov42 is a blockchain-inspired tech company building a platform to reduce climate change, reduce irresponsible supply sourcing (such as timber) and prevent illegal labour and corruption. iov42 helps organisations and industries to digitally codify their processes, whether that’s within a supply chain or a bank’s mortgage applications. And then they provide proof that their rules are being followed by everyone involved. This improves trust, and holds big players and corporations to account for their actions.
iov42 helps organisations that rely entirely on their users’ trust, but whose processes or products aren’t as robust as they could be. iov42’s technology enforces the organisation’s rules & requirements in a way that provides verification, so that their users can have peace of mind when dealing with each other. It’s all done through an identity-centric platform inspired by blockchain, but with pioneering technology that makes it simpler, faster, and more secure. iov42’s ultimate aim is simple: to help create a digital society built of interconnected groups that can fully trust one another.
Launched this year, iov42 developed Timber Chain in partnership with preferred by nature, which will enable stakeholders across timber supply chains to improve efficiency, transparency and security through a secure blockchain application, storing all information in one place. By combining blockchain technology, third-party certification, and market knowledge, the Timber Chain modernises traceability; introducing real-time digital data recording, replacing traditional, paper-based processes which are labour intensive and often prone to human error.
The Timber Chain service has been built to improve and secure the interactions between all stakeholders across the supply chain from forest to shelf. The security, productivity, and sustainability of international timber markets are too often affected by corruption and the fragmented nature of the industry, impacted further by outdated methods for information gathering and verification. Through Timber Chain, all data and claims are checked and certified by a reputable third party. All data is stored and secured by iov42’s distributed ledger technology, ensuring complete data integrity and confidence by utilising blockchain; a system of recording information in a way that makes it impossible to change, hack, or cheat the system.
