How OEMs will Leverage the Multiven Open Marketplace DApp to Boost Sales

Blockchain has heralded a novel way to do business across a number of industrial sectors. From finance, to healthcare, to supply chain, and just about everything else, blockchain is slowly becoming an ever present technology in today’s world.

The use of blockchain technology has so far been mainly associated with cryptocurrencies, and while blockchain is indeed the technology underlying Bitcoin and other digital currencies, it is far from its only possible application.

At its core, blockchain is a digital ledger where transactions, once recorded, become immutable. In other words, on the blockchain, data can be distributed, but not altered. The immutability trait is key towards maintaining and verifying the integrity of the data transacted on the ledger.

There are plenty of other applications for this emerging technology.

Information Technology (IT) Original Equipment Manufacturers (OEMs), for example, can greatly benefit from the implementation of blockchain technology in a variety of ways, including full traceability of an equipment’s history and ownership verification.

Multiven, a pioneering technology company is developing a platform that works as an oracle to OEMs, providing first-of-kind post-genesis IT asset ownership records for OEMs.

Boosting Service Sales through Multiven Open Marketplace (MOM)

“Today, the only way an OEM can verify a customer’s entitlement to service and support is by matching the chassis serial number to the organisation or individual, the equipment was originally sold to. OEMs have zero visibility into post-genesis ownership records for the billions of IT equipment they sell into the market annually. The Multiven Open Marketplace DApp will fill this void as the world’s first blockchain-based oracle for all OEMs” — stated Peter Alfred-Adekeye, Multiven’s founder and CEO.

Purchasing pre-owned IT equipment is quite commonplace among businesses. because it is budget-friendly, and usually delivered quicker than brand new stuff. But used equipment does have its drawbacks also.

Determining the provenance of a given piece of IT equipment is very difficult, especially, if there have been more than one owner.

This immediately raises the question of whether or not the person or company that you purchase the equipment from is actually the legal owner in the first place! Because of this, obtaining service for a router, switch, server or any other IT asset, that may already be out of warranty, can be a complicated process.

A practical example: When you buy a router from Cisco, Cisco is aware of the transaction, and a record of the sale exists somewhere in their database. One year on, you decide to sell that router to someone else. A few weeks after the sale, the router malfunctions so the buyer needs warranty support from Cisco. When Cisco attempts to verify service entitlement, they will inform the new owner that the serial number of the device is not associated to their firm and service will be denied.

The MOM specifically addresses this dilemma with a blockchain solution.

When you sell your pre-owned IT hardware or software license through the MOM, OEMs will have complete and transparent visibility into your IT asset’s ownership history, so that when warranty support is needed in the future, the manufacturer will be able to quickly validate ownership (and by extension, entitlement to support and service), and probably upsell the owner on its support services.

Conclusion

The Multiven Open Marketplace (MOM) aligns OEMs and end-users through the blockchain. By providing full and transparent transaction history for a given IT asset, MOM simplifies the usually protracted process of determining provenance and ascertaining whether or not a particular organisation owns an asset.

The blockchain solution powering MOM offers a unique value proposition for end-users, as it removes the cumbersome and often insurmountable task of proving ownership. Equally, OEMs can rely on MOM to quickly validate an asset’s origin and history, enabling them to make a quick service decision which should translate to an increased customer satisfaction and growth in their services revenue.

— Fernando Sanchez

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MOM Foundation

MOM Foundation

Introducing MOM, your blockchain marketplace— www.mom.market