KULR Technology Group announced the launch of a blockchain-secured supply chain initiative aimed at safeguarding product-related data for its customers. This move involves decentralizing inventory tracking from proprietary software onto a distributed ledger, which is expected to increase transparency and security.
By recording each inventory item as a tamper-proof, timestamped entry on a distributed ledger, KULR eliminates the risk of data manipulation and ensures all stakeholders have access to a single source of truth. This approach reduces reliance on centralized systems that are vulnerable to outages or unauthorized access.
One of the initial products to be recorded on the blockchain will be lithium-ion batteries screened to meet NASA’s WI 37A rigorous methodology. Each battery will have its metadata minted as a non-fungible token (NFT) on the blockchain, allowing for verifiable chain of custody. KULR has built a customized rollup to Coinbase’s Base L2 chain, which is ultimately built on Ethereum.
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