New standard guide for verification of a COA used for enhancing the traceability of products through their supply chains is the first ASTM standard referencing distributed ledger blockchain technology.
Nov 07, 2024
ASTM International’s has developed a pioneering standard guide for verifying Certificates of Authentication (COA) used to verify product-related documents through the goods movement process, incorporating blockchain technology. The new standard () is the first of its kind to reference a distributed ledger blockchain solution for this purpose.
Mike Coner, CEO of Blockticity and vice chairman of the F49.06 subcommittee, cites a 2020 report prepared by the federal research division of the U.S. Library of Congress stating that 20% of global supply chain products have altered COA paperwork. A fake document discovered during a random audit can result in fines and shipment delays. "This standard addresses this issue by using blockchain to create tamper-evident copies of COAs. This allows for quicker audits and faster inspections, ensuring that documents in hand match the original blockchain-recorded documents," Coner explained.
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