Libellum is looking to disrupt the supply chain industry with the blockchain. Their platform simplifies and accelerates the supplier verification process with a single click.
Libellum points out that as e-commerce continues to grow, it’s increasingly important to verify suppliers from overseas, particularly China where there is a trend of “illegitimate suppliers” scamming novice buyers. Libellum connects buyers, suppliers and certificate-fueled third-party test labs. The legitimacy of suppliers is documented on the blockchain.
How Does It Work?
Buyers browse through a list of verified suppliers either on the Libellum web or mobile app, where they can filter desired results by region and industry. The interface will identify a supplier that meets the criteria and whose certificate/test report is legitimate. (Libellum also boasts a certification/test report list based on the industry, which buyers can access.) The buyer contacts the supplier directly to determine if it’s a fit.
In addition to the ERC20 LIB token, Libellum boasts three main features:
- A web platform and mobile app lists verified and compliant suppliers.
- L-ID System is for product certification
- Each supplier is assigned a unique and encrypted digital ID that’s secured by the blockchain.
The immutable nature of the blockchain will ensure that ledgers can’t be falsified along the supply chain. Libellum boasts a public blockchain for supplier verification data, private blockchain for a company’s sensitive data and smart contracts to communicate and perform specific tasks on the platform.
Suppliers, manufacturers, testing companies and buying offices around the world in addition to importers, exporters and custom officials.