What is iVAULT?

Three new DrKPI videos are out now on YouTube.
Counterfeiting and theft are a global problem that is growing. Billions of dollars of damage are recorded every year.
Here, we explain how you can protect yourself against both counterfeiting and theft using iVAULT.

“Protect what’s yours.” That is exactly what you will be able to do with iVAULT. This new brand was created by Vault Security Systems AG.

This blog entry is about the three videos we created with Arman Sarhaddar, Urs E. Gattiker, and Lothar Rentschler, all engaged in their work for #iVAULT.

If you prefer to read their statements, you can find each of them here:

  1. Urs E. Gattiker, COO: What is a blockchain and what does iVAULT do with this technology?
  2. Arman Sarhaddar, CEO and founder: Why I created iVAULT
  3. Lothar Rentschler, CMO: Initial thoughts on marketing

Read this blog entry in German here.

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1. What makes iVAULT special?

Urs E. Gattiker, Chief Operating Officer of Vault Security Systems AG, talks a little bit about the basics:

  1. What is a blockchain?
  2. 4 challenges iVAULT helps clients with.
  3. How does iVAULT ensure that no fakes enter their supply chain?

Remember when your club or association kept a petty cash book or ledger on paper? Each record was entered by hand, and then we started doing it all with accounting software, possibly customised for use in associations.

To be sure things were done properly, we probably had two club members act as auditors. They checked the books, including petty cash, and reported back to the other members at the annual meeting.

This is much easier with iVAULT. All club members or a selected group (e.g., board, advisory board, and elected auditors) can have a copy of the books in digital, encrypted form. This distributed system records each booking, which is then entered permanently onto the books once the majority agrees. Entering it onto the blockchain also means it can no longer be altered, unless others agree to the alterations.

With iVAULT, the new platform, we can keep our association’s books via the blockchain. Additionally, an individual may register their assets in the data bank. It can be seen and checked by everyone on thousands of computers, and the data cannot be manipulated. This means that if you want to buy a product secondhand, you can be sure that the person selling it to you is the true owner. Most important, if purchasing a used luxury car, jewellery, or expensive technical equipment, you know that what you think you’re buying is what you’ll get.

No fakes, only the original with genuine parts.

iVAULT offers four advantages:

  • Authenticity: Consumers can be sure that they’re not buying stolen or fake products.
  • Compliance: Streamlining your governance processes.
  • Information Security: iVAULT helps better protect consumer data while strengthening privacy.
  • Costs: Reducing costs, while speeding up transactions in the supply chain.

Urs explains this in a video, with an example:

If we want to buy a luxury car secondhand, we want to be sure that all data about the car are true.
This challenge iVAULT addresses by providing you with 100% assurance of that, because data, once entered onto the blockchain, can no longer be altered or even falsified.
You can trust that what you buy is what you get. As well, the company can assure its customers that they get the original product. In turn, this helps protect the company’s reputation.

We can check the information on every computer:

  • Which garage did the warranty work,
  • was the car in a major accident, and
  • more factors that affect its value and dependability (e.g., mileage and major repairs).

That is why we can protect what’s ours with iVAULT. But how did this idea originate?

2. Why I created iVAULT

Arman Sarhaddar, Chief Executive Officer und founder of Vault Security Systems AG, tells his own personal story in the video below.

It is what inspired him, along with his team, to create iVAULT.

With his personal belongings in a storage facility, he would have gladly used iVAULT, had it existed. When he was robbed seven years ago, having iVAULT available would have given him a real chance to recover his stolen treasures, and things he loved.

Watch the video of this very personal story below.

Arman lost all the things he gave to a storage facility, like a wooden sculpture and his complete music production studio.

With iVAULT, everyone can register, search for, and identify assets, such as lost or stolen items. Consumers can look up the information given by a seller about a watch, a painting, a car – almost anything – to check if the seller is the true owner and has the right to sell it.

For companies, the benefit can be even greater. For example, when fake medication is sold online, it damages the business’ image, and hurts patients. iVAULT makes it possible to identify counterfeits, both medication, and medical technology.

3. Initial thoughts on marketing

Lothar Rentschler, Chief Marketing Officer, explains that customer happiness, as well as service, is essential to iVAULT’s vision and mission.

iVAULT is about providing a new level of security and comfort for consumers and businesses alike. It is an outstanding solution for counterfeiting and theft. iVAULT helps to protect your goods, and that is why everyone on the team is certain of the market potential of the new brand.

Last but not least, if you want to read more about the shooting take an exclusive look at us behind the scenes.

4. What’s your opinion?

iVAULT is the first global network to use blockchain technology for registering and identifying assets (such as lost items or stolen goods). It lets users register their items on the blockchain, search for them, and identify them.

  • Have you ever used a blockchain?
  • Do you want to try iVAULT, or do you still have concerns?
  • Have you experienced something like Arman Sarhaddar did? Did you lose something of great value or buy a fake product? It must have been very upsetting. Tell us about it, we would to hear your story.

Leave a comment and share your thoughts.

The author declares that some of the companies mentioned herein are clients of CyTRAP Labs or subscribers of DrKPI® services.

6 thoughts on “What is iVAULT?

  • 22. December 2018 at 10:13
    Permalink

    Dear Patrizia

    Thanks for this nice wrap-up of our shooting at Vault Security Systems AG in Zurich, Switzerland.
    Yes, I think blockchain is a great invention building on cryptography and distributed computing.
    In short:

    blockchain is an electronic database of transactions that is continuously updated and verified.
    It offers a verifiable, immutable, and public record of transactions such as:

    • stock borrowing and lending,
    • transfer of product ownership,
    • repair or warranty work on a machine using genuine parts, AND
    • electronic patient records.

    This digital ledger of activity helps buyers and sellers to be sure that what they purchase is the real thing and not counterfeit.

    Soon iVAULT will onboard clients, stay tuned…. I look forward to the next video shoot with the VSS AG team!

    Reply
    • 22. December 2018 at 17:32
      Permalink

      Dear Urs

      Thank you for your comment. I look forward to seeing you and the rest of the Vault Security System AG team in January again. Same procedure as every year, one could say.

      I trust, the next videos will be at least as exciting as the first 3 videos for iVAULT. There will certainly be even more interesting things to say, that many people want to know for sure.

      Greetings from the Lake of Constance
      Patrizia

      Reply
  • 22. December 2018 at 13:59
    Permalink

    Well done, indeed.
    Looking forward to more and frequent information.
    The team is growing, you can feel the enthusiastic collaboration. This is the start of something big.
    2019 will rock!

    Reply
    • 22. December 2018 at 17:37
      Permalink

      Dear Lothar

      Thank you for your answer. It is intriguing to see, how the whole VSS AG team is so passionate about iVAULT. With good reason, indeed!

      And for those who still have concerns about the new brand using the blockchain technology, here you can find more news: https://vaultsecurity.io/press

      See you soon
      Patrizia

      Reply
  • 22. December 2018 at 17:17
    Permalink

    Dear Patrizia

    iVault will be the perfect tool for consumers as well as for businesses, to protect their products from loss or counterfeit products entering their supply chain.
    I am very proud and happy to work with such a professional team. We all believe that this product has great potential. That is why we are at it with such great passion.
    In my opinion, passion is the strongest motivation to work efficiently towards success.
    Greetings
    Armand

    Reply
    • 22. December 2018 at 17:45
      Permalink

      Dear Arman

      What you’re saying about motivation is true, I totally agree.

      And with you all on board the motivation hardly holds itself in boundaries. It is very inspiring, how you perceive each other as ambitious and great minds working together on such a promising concept.

      Made me think of a quote:

      “It is a grand thing to rise in the world. The ambition to do so is the very salt of the earth. It is the parent of all enterprise, and the cause of all improvement.” —Anthony Trollope

      Greetings from Constance
      Patrizia

      Reply

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