Leveraging open source data integrity, transparency, verifiabiliy
Blockchain technology will provide TVI with numerous advantages. Mutual distributed ledgers (MDLs aka blockchain), as pioneered by Z/Yen Group since 1995, are changing how transactions are being recorded and tracked.
As a high-integrity, verifiable, globally available ledger, blockchain allows for not only the decentralization of data but also the auditing and analysis of historical trails of transactions and accounts.
In this way, blockchain provides immutability and transparency to standard accounting systems, in turn establishing a backbone for a global accounting system that can potentially connect all transactions within all types of economies. Furthermore, blockchain also provides a framework within which people on the ground, at various points of the supply chain, can input data themselves and validate the data of others.
This crowd-sourced data can then be used for comparisons against public data from industry and governments. As blockchain can also create an internal economy of its own, the crowd will effectively be paid via blockchain currency to get involved in collecting data and improving value output in their supply chains, whether as a producer of raw materials, manufacturer, distributor, or consumer.