About UChain
Overview
VerifyUnion provides total ownership of the data that is stored, from the network through to the customer (end user), while protecting user privacy and securing documents and identity.
VerifyUnion is a decentralized Digital Identification and Trust Verification platform built on Ethereum Blockchain.
Technology
Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third-party interference.
Hyperledger Blockchain, the Blockchain technology for business, incorporates a Consensus Algorithm of Proof of Authority where all consensus participants are known and reputable.
Partnership and Use Case
VerifyUnion has partnered with ASB Bank to present New Zealand's first Blockchain single trade window.
All relevant documents required for a trade are uploaded, shared and validated within the platform's secure and private, permission-based Blockchain network: this will save days worth of work for all those involved in the supply chain – from Bank, Exporter, Shipping company through to Insurer, and Government agencies - and greatly reduce costs.
It is a digitised, automated trade process and documentation platform that is both secure and transparent.
Trading on this platform means full provenance and immutability with a single point of truth.