Blockticity Develops Global Trade Verification Standard Using Avalanche

Avalanche

As paper goods transition to digital assets worldwide, Ava Labs and Blockticity as members of a committee in ASTM International, collaborate on a new international standard for Certificate of Authenticity (COA) verification using Avalanche’s Layer 1 technology and addressing the $25 trillion global cargo trade. The collaboration aims to modernize global supply chain security and transparency by providing a tamper-evident method to authenticate goods and commodities.

The global trade industry is plagued by inefficiencies and vulnerabilities, particularly in document authentication, which costs the global economy $4.7 trillion annually. A significant portion of this loss–$50 billion per year–is attributed to fraudulent activities involving fake or forged documents and ultimately passed through to consumers from distributors and retailers. After successfully minting $275 million in real-world assets and other product certifications across pharmaceutical, retail, and nonprofit industries on Avalanche, Blockticity is working with ASTM Digital Information in the Supply Chain Committee F49 on new standards for deforestation, solar panels, and battery tracking through the global supply chain.

“Our focus is shifting towards a broader business-to-business strategy in agriculture and commodities, tapping into the global real-world asset market,” says Mike Coner, CEO and co-founder of Blockticity. “Supply chains today are more complex than ever, and ensuring authentication across every step is a challenge for regulators and businesses alike. Blockchain technology provides a solution by creating immutable, tamper-proof records that track every stage of a product’s journey. Partnering with ASTM allows us to integrate these innovations into global standards, ensuring compliance and transparency at scale."

Development of the ASTM COA standard leveraging blockchain technology addresses a critical need in today's digital and globalized economy where the majority of trade is stuck in a multi-billion dollar paper jam.

Digitizing real world assets using blockchain technology securely enables authentication at scale and may also provide an early warning system for fraud with its core function as an immutable ledger that cannot be manipulated by bad actors. Avalanche’s Layer 1 blockchain utilized by institutions such as JP Morgan and Citi represents a highly scalable blockchain allowing near-instant transaction finality, privacy, and transparency.

The inaugural blockchain COA standard, ASTM D8558, defined in July 2024, references blockchain technology as the desired method for verifying goods, providing certificates of authenticity, and supports several Sustainable Development Goals set forth by the United Nations. In a move towards maximizing improvements of the verification process for COAs, Blockticity’s blockchain-forward approach aligns with global efforts to combat fraud, protect intellectual property, support ethical supply chains, and enhance the global commerce ecosystem by certifying goods and products.

ASTM International, formerly known as American Society for Testing and Materials, exists as the leading standard’s organization, developing and publishing voluntary consensus technical international standards for a wide range of materials, products, systems, and services.

About Blockticity

Blockticity is a leader in leveraging blockchain technology to revolutionize supply chain management. With solutions that deliver unparalleled transparency, security, and efficiency, Blockticity empowers businesses to build trust and optimize operations across multiple industries. Their innovative approach simplifies complex market challenges, ensuring accountability and seamless coordination throughout the entire supply chain.

About ASTM

ASTM International is a global leader in developing voluntary consensus standards that drive quality and safety across industries like construction, metals, petroleum, and consumer products. With over 12,500 standards and more than 30,000 members from 140 countries, ASTM's collaborative approach ensures its standards meet the needs of businesses and consumers. Through training, webinars, and laboratory services, ASTM helps organizations achieve excellence and build global trust. For more information to join ASTM Committee F49 Committee on Digital Information in the Supply chain click here: https://www.astm.org/committee-f49

About Avalanche Blockchain Network

Avalanche is a high-performance blockchain platform designed for builders who need to scale. Engineered with a revolutionary three-part Layer 1 (L1) architecture, Avalanche is anchored by its Avalanche Consensus Mechanism, ensuring near-instant finality for transactions. The platform also features an open-source Layer 0 (L0) framework, enabling the seamless creation of interoperable Layer 1 blockchains with high throughput on both public and private networks.

Supported by a global community of developers and validators, Avalanche offers a fast, low-cost environment for building the next generation of decentralized applications (dApps). With its unique blend of speed, flexibility, and scalability, Avalanche is the preferred choice for innovators pushing the boundaries of blockchain technology.

About Ava Labs

Ava Labs is a leading blockchain technology company dedicated to empowering organizations to build scalable decentralized applications (dApps) and custom blockchains. Headquartered in New York City, Ava Labs is driven by a dynamic team that creates cutting-edge tools for developers, enabling them to harness the power of the community-driven Avalanche Blockchain Network. Ava Labs supports the launch of Avalanche Layer 1 blockchains, helping clients—from startups to government agencies, financial institutions, gaming companies, and telecoms—transform industries and pioneer new ones.For more information, visit avalabs.org

About Blizzard Fund

Blizzard is a venture capital fund that invests in innovative companies and entrepreneurs driving growth on the Avalanche blockchain. Since 2021, Blizzard has invested in 150+ projects that are digitizing the world's assets and reshaping markets across finance, gaming, and enterprise applications.

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