Vault Security Systems: Effective, Affordable, & Accessible
Arman Sarhaddar, CEO & Founder, Vault Security Systems AG
Vault Security Systems: Effective, Affordable, and Accessible
“Once you have a vision, build a strategy around it to execute the vision.” A serial entrepreneur across markets, Arman Sarhaddar is a dreamer by nature who believes in carefully building the strategic foundation that shapes his dreams. Born and raised in Vienna, Austria, Sarhaddar became an active investment banker in 2000. He worked for big investment firms in various markets and managed companies with up to 50 brokers in the U.S.
The Blockchain Journey
Having over 20 years of wealth management experience, Sarhaddar has always been fascinated about the distributed ledger technology which brings true authenticity, integrity, and security in to play. “At the beginning, Bitcoin was a remarkable technology, but it was not until the developments in the recent years that the true potential of distributed technologies crystalized themselves,” he notes. Moreover, all those new areas of applications reflected with his personal story. “My personal belongings were stolen from a secured area. At that moment, I knew what should be done.” With careful study and preparation, he founded Vault Security Systems. Vault provides an effective, affordable, and accessible distributed ledger or blockchain solution, helping both businesses and consumers protect their most valuable assets.
Today, there are many blockchain protocols which try to capture the supply chain market. However, having a protocol to build upon is only one side of the coin. Companies still need all kind of technology to actually make it work. That is where Vault Security Systems is truly a pioneer.
Preventing Counterfeit in Supply Chains
If a company wants to ensure that their products are, for example, climate-friendly, using blockchain is the affordable way to do so. Reducing counterfeit can also be achieved by using blockchain in combination with other technologies. With around a trillion dollar damage in counterfeit every year, this money can return to the positive side of a company’s balance sheet.
“Our business solution, ivault, is designed to prevent counterfeit in supply chains. This can be achieved for parts, as well as for products which are being sold to customers,” says Sarhaddar. They use a customized solution for businesses to benefit from the security and traceability enabled through blockchain technology and can also decide for themselves how much transparency they want to give to their customers. One of the advantages of this approach is that Vault solutions can be used to show the customers directly that their products are authentic. “Consequently, this enables completely new customer engagement models and new ways of communicating with customers.”
Apart from their business solutions, the company is also developing a mobile app. The app lets people digitize their valuables and in case they lose something, they can count on the ivault community to get their beloved item back. “Distributed ledger technology plays a role in the development of the app, although we decided to use it for the backend, so that users can rely on security and privacy, but are not actively shown all the technology,” he adds.
Implementing distributed ledger into a corporate system can be a burden for employees. The implementation process is not so much about the technology and the advantages are dwarfed by the change in the structure of a system and with it—the workflow. “More often, the process could bring more advantages to everyone involved, if the corporate system is being enhanced with distributed ledger technology instead of replaced,” points out Sarhaddar.
Moreover, blockchain is often still regarded as a hype and many companies do not grasp yet the advantages. “In Switzerland and the European Union, we faced a challenge in explaining the differences between cryptocurrencies and distributed ledger technology. We tackled it by showing our use-cases for IoT and by implementing our solution into a product which is already on the market.” Vault’s solution can not only be completely automated, people working with the system do not even see that they are working with distributed ledger technology. And that for Sarhaddar, is a dream come true.