BlockTac pioneer in enforcing RBC Guidelines to Blockchain solutions
The OECD has developed a set of guidelines that establish principles and standards of responsible business conduct (RBC for Responsible Business Conduct). These are common recommendations for companies that they can adopt voluntarily. Those who follow these principles contribute effectively to environmental and socioeconomic development and avoid harmful effects of business activities on workers and consumers, fall into corruption or pollute the environment. The guidelines recommend the practice of due diligence in business operations to identify and address those potential adverse impacts.
This due diligence of the OECD for responsible business conduct consists of the following initiatives:
- Ensure that the company’s management policies and systems are characteristic of responsible business conduct.
- Identify and evaluate adverse impacts on operations, supply and distribution chains, and commercial relations.
- Eliminate, prevent or mitigate possible adverse impacts.
- Track the implementation of these principles and their results.
- Communicate how possible adverse impacts are addressed.
- Contribute to its solution when necessary.
To the extent that administrations, consumers and investors are increasingly demanding in matters of RBC, systems that provide information on the authenticity of products and services, the chain of custody and traceability of products in supply chains and distribution, will experience great demand.
Blockchain technology currently plays a decisive role in supporting systems that wish to comply with RBC standards. And at the same time, the operations carried out with this technology must be equally rigorous in compliance with these guidelines.
In BlockTac we have been well aware of this responsibility. On the one hand, developing products that help companies deliver products to the consumer in accordance with these standards; and on the other, incorporating them into our own processes. In doing so, we contribute to consolidating the intrinsic value of Blockchain technology to companies and consumers, defending it against possible malicious uses.
Being in the initial stages of the implementation of this new technology and given the pioneering nature of our solutions, we have also been concerned with the distinctness and illustration of our processes in the different industrial applications, so that our own RBC requirements are met.
This commitment is particularly necessary at times when the ignorance of Blockchain technology can lead to confusion between customers and consumers and give rise to the appearance of opportunistic behaviors by unscrupulous business initiatives.
As an example, we describe here how we solve it in the authentication of accreditations of academic and professional competencies or in artworks. In all cases, the information is recorded in Blockchain in a safe and responsible way. The operations processes established in our platform ensure that:
- The certificates are original and cannot be copied or forged.
- The institutions issuing the accreditations are not supplanted.
- The certificate is owned by the holder, can have unlimited access, always carrying it, able to share it at will, and be verified immediately without cost by third parties.
And actions are taken to ensure compliance with RBC standards, such as:
- Automate the processes of registration in Blockchain in the institutions issuing the accreditations.
- Verify, before registration, by an independent third party the authenticity of accreditations referred directly by the holder.
- Provide a secure system of the verification process that must take place within the scope of the accreditation authority.
- Have a verification tracking system.
- Prevent the verification of any record that is proven wrong or false in any of its components.
By publicizing this way of acting, we seek to serve as an orientation both for other companies that develop solutions by means of Blockchain technology and for client companies when evaluating different implementation proposals.