As a next step toward responsible decentralization of the Algorand network, Silvio Micali and Jing Chen share a proposal for further decentralizing Algorand Governance

VeriTX

Supply Chain, Digital Assets

About VeriTX

VeriTX is a digital commerce marketplace for buying and selling digital and physical assets, particularly in the Aerospace and Medical parts industries. The VeriTX platform allows customers such as the Department of Defense to save significant time and money in manufacturing aircraft parts and gain valuable economic and logistical data that can be used to maximize efficiency. As the US armed forces move toward a digital supply chain, the market size for digital aircraft parts is expected to reach $3.1B by 2025. Traditionally, if an F15-Eagle fighter needed to have a part replaced it would take around 265 days from order to delivery of the part. On the VeriTX marketplace the Department of Defense can place a buy order for a metal aircraft part to be 3D printed on-demand and delivered in just 6 hours, saving that F15-Eagle jet from thousands of hours of operational downtime.

How VeriTX is using Algorand

Algorand and VeriTX are working towards a shared mission of removing friction from transactions by connecting buyers and sellers directly, eliminating inefficient costs associated with middlemen. VeriTX is integrating its supply chain with the Algorand blockchain, enabling the business to track parts from order to delivery. In addition, integrating its digital supply chain on an immutable distributed ledger allows VeriTX to easily verify the authenticity of the parts, mitigating the $3 Billion counterfeiting problem facing the industry today. An Air Force maintenance commander has estimated that VeriTX would yield a 30 percent cost savings, 90 percent reduction in waste, and a 25 percent increase in aircraft performance (uptime).

VeriTX Teams with Algorand to Deliver Leading Digital Marketplace for Aerospace Manufacturing

Latest News

Oct 23, 2020
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Supply Chain Digital

VeriTX: The Blockchain-powered Aerospace Marketplace

Oct 23, 2020
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BraveNewCoin

VeriTX chooses Algorand for aerospace digital supply chain

Oct 23, 2020
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Modern Consensus

Aerospace marketplace VeriTX turns to Algorand to get its supply chain soaring

Oct 22, 2020
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The Chain Bulletin

VeriTX Partners With Algorand To Develop Digital Supply For Aircraft Parts

Oct 22, 2020
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Centre For Aviation

VeriTX selects Algorand blockchain technology for its aerospace digital supply chain

Oct 22, 2020
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AMB Crypto

VeriTX partners with Algorand to deliver on-demand aircraft parts

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