How we help businesses

Common issues facing the supply chain industry:

  • Lack of transparency regarding a product’s history through the chain.
  • Large bureaucratic overhead.
  • Counterfeit goods and products.
  • Slow payment terms from corporations hurting the cash flow of suppliers.
  • Value locked up in inventory reducing liquidity.
  • Information used for securing finance is owned by financial institutions and not shared.
  • Supply chain investment industry has limited scope and is reserved only for large organizations.

Younus’ approach to tackling these problems:

  • Store product history in an immutable and accessible ledger.
  • Contracts and payments are digitised and automated.
  • Instant verification of product authenticity through digital signatures.
  • Tokenisation of accounts receivable allowing for investors to purchase.
  • Tokenisation of assets allowing for investors to purchase.
  • Open mechanism for transfer of financial data, owned by the business, on the blockchain.
  • Open market for supply chain investment through the Younus platform.

Technology

Younus Technology

Blockchain

  • The Younus blockchain system uses cryptography to connect data together in an immutable ledger
  • Data is collected into blocks that are agreed upon via a consensus mechanism
  • The immutability of the blockchain is produced by the consensus mechanism acting as a barrier to any single entity tampering with the chain
  • Younus is a PoS/DAG hybrid with two chains: PoS chain for tracking of transactions and DAG for storage and smart contracts
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Proof of Reality

  • For a blockchain to be decentralised, it needs a consensus method that ensures the data can’t be manipulated by a deceptive user of the network.
  • Younus uses a hybrid delegated proof model that includes stake, validation, and connectivity. These combine to form Proof of Reality.
  • The validity element incentivises the party to validate the digitisation of these real-world entities as it will allow them to become a delegated node. On top of this, it ensures that control of the network remains with those participating in its core application.
  • The connectivity element incentivises users to give connectivity to IoT devices that are contributing to the network.
  • The stake element ensures that the node is risking financial loss if acting deceptively.

IoT (Internet of Things)

  • IoT enables efficiency to be added to the Younus blockchain via automation.
  • Sensors can verify parameters as to a product’s journey through the supply chain, communicating directly with the blockchain.
  • Human error is reduced and greater transparency regarding the handling of goods is achieved.
  • This also benefits handlers- when an issue arises, they can verify they are not to blame if conditions were met.

Examples:

  • Tracing the environment and age of spoilable goods
  • Locating the source of goods, to help fight counterfeiting
  • Accelerometers to ensure proper care has been taken in the handling of goods
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Decentralised Applications

  • Younus provides a platform for developers and businesses to create decentralised applications on the blockchain via the YVM.
  • These applications can utilise all the features of the Younus platform to find innovative solutions for the supply chain ecosystem.
  • Younus itself will have a decentralised application for trading assets and invoices, as well as users selling their data.

Examples currently in development:

  • Customer transparency for Ruhlamat
  • Giving customers confidence in recycled oil with Motion Eco
  • Automating fleet management with Armor Tech
  • Tracking electric car charging with AND Corp
  • Blockchain based ecommerce with ZhaoYou

Smart Contracts

  • A smart contract is an automated contract that gives an output based on an input.
  • Younus tackles the barriers to developing smart contracts by having native Java support in the Younus Virtual Machine(YVM)
  • With Younus, there is broad scope for gaining efficiency via smart contracts. Here are two examples of how this can occur:
  • Payments can be automatically released to a supplier if the customer scans a tag on a receipt to verify that they are happy, and all the IoT sensors verify that the parameters of handling have been met.
  • Low stock level can trigger a new order automatically, only triggering if price and delivery time parameters have been met.
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Decentralised Applications

  • Younus provides a platform for developers and businesses to create decentralised applications on the blockchain.
  • These applications can utilise all the features of the Younus platform to find innovative solutions for the supply chain ecosystem.
  • Younus itself will have a decentralised application for trading assets and invoices, as well as users selling their data.
  • Other potential examples include stock management systems, e-commerce platforms and supply chain profiling.