ITAD and Decentralized Chain-of-Custody (DeCoC)
Graphic: DeCoc based on the OBIT NFT
- image: show laptop+NFT traversing supply chain
- “As an asset moves through it’s lifecycle, the NFT acts as a single source of truth.
Why Chain-of-Custody is needed by ITAD.
- Properly implementing data destruction standards requires CoC to track where the data has gone.
- Responsible recycling requires ITAD actors to maintain downstream compliance to ensure the devices reach a proper recycler.
- CoC is also needed to prove commission-based selling of used assets and for proof of charitable donation.
- Read the gartner ITAD report.
Current Chain-of-Custoday Solutoins
ITADs currently have two methods for supplying chain-of-custody. They can do it themselves, manually and offline, maintaining control of the device all the way through the lifecycle, possibly working with a small set of defined partners. Or they can require all actors in the chain to use a common centralized platform.
Why Decentralized Chain-of-Custody
- With DeCoc, the CoC data is stored in the NFT. All actors in the chain report to the same NFT. It’s a single-source of truth.
- No one entity is in control of the system. No single entity holds the data. No single entity makies the rules. No single entity collects the fees. No single entity can restrict access to the system.
- The OBIT NFT acts as a universal data repository for centralized CoC systems, creating interoperability between all applications in the entire asset disposition sector.