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Trace
Trace is a 'blockchain-based data trust verification service' provided by Luniverse.

Features of Trace

Ensuring Data Integrity and Reliability

  • Data reliability is essential for various services such as contracts and records. The data must not be tampered with, and all recorded events to the data must also be reliable
    When storing the data you want, Trace provides a reliable verification service by using a distributed data storage technology by showing it with the time of storage and leaving a record on the blockchain.
  • This allows you to easily inquire and verify the recorded data with API to apply the trust and verification service in various fields.

Event History Record

  • In the case of services where event history is important, such as trading and distribution, you can provide a more secure service if you record data by introducing a blockchain to the existing service. The [Trace] service provides an API that allows you to easily record data without the need for an additional blockchain development manpower. Thus, you can easily apply blockchain to your running service.

Tracing

  • Recorded data can be grouped by the recorded Object ID. From the grouped events, you can know when and from whom the change of all recorded data occurred in a specific object. In other words, you can track data changes within groups of objects. Based on this, you can also track the time when you want to check.
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TIP : Follow the tutorial on Luniverse Service to generate Trace! You can create a blockchain-based trust and verification service quickly and easily in 5 minutes. Get started for free!

Examples of Applying Trace

Non-Uniform Stock Trade

When you trade unlisted stocks, you should find buyers and sellers through a bulletin board on web, or you should meet them offline for actual trading, which is very inconvenient. In addition, in the case of non-uniform stock certificates, each company has a different transaction method, so it is easy to abuse with a fatal trust issue.
In addition, in the case of non-uniform stocks, which account for a large proportion of unlisted stocks, the company must manage the list of shareholders. Therefore, it is inefficient and prone to errors because it manages the issuance of stock certificates and changes to shareholders in Excel.
In order to reduce the above risks, traders should study the relevant laws personally. To resolve such risks, the company also needs to utilize stock trading services or establish a process, but this has a limitation to fundamentally guarantee safety and integrity.
To ensure the fundamental safety and integrity for transactions, you can use the [Trace] service to keep the non-counterfeiting and non-modulation record of such transactions and record all events such as capital reduction and stock option exercise on the blockchain. This increases the convenience of both trading users and companies because it secures the safety and integrity of unlisted stock trading and further electronically manages the shareholder list.
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Purchasing Used Cars

When trading used cars online, it is important to provide reliable information to buyers by directly managing the history of the vehicle and determining its condition. You can record history and provide it to buyers to provide accurate information that they can trust to buy the used car, but whether the data is reliable depends on buyers' judgment.
An effective way to give buyers confidence is to introduce blockchain. You can record on the chain the information and history to be provided to buyers who purchase a used car, such as diagnosis report, flooding treatment history, total loss treatment history, owner change history, insurance history, and consumable replacement history. This allows buyers to trust the service more because they are provided with a history that cannot be forged or falsified.
You can also record the transaction history and the state of the product at the time of the transaction on the blockchain, providing greater trust to buyers.
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Trading Used Goods

Since trading used goods is a person-to-person transaction, it is vulnerable to fraud. Therefore, you risk experiencing various malicious trades.
The parties to the transaction must have evidence of the transaction and information of each other. However, if the other party deletes the content of the transaction and the account, the evidence disappears. In addition, if the other party forges the content, the victim cannot prove the damage for the transaction. These structural problems can lead to a vicious cycle.
If the information on all used transaction records such as goods, transaction amount, and the counterparty is recorded on the chain, you can avoid such damages.
Since all transactions are recorded on the blockchain to prove and prevent crime, this can find and prevent malicious users who try to cheat by using the characteristics of second-hand transactions. As a result, you can guarantee the safety of transactions made within the platform.