Blockchain = Collaboration
This powerful new technology demands a new approach to ‘doing business’.
Our company was founded on a deep understanding of blockchain technology and the innovation’s potential to transform the way we do business. Blockchains require many parties to collaborate and join efforts to store and use data in new ways.
Blockchain technology unlocks the potential to do things not previously possible.
Companies can now work together to build new integrated and data-rich business systems.
Why Our Business Exists
The idea that sparked the launch of TBSx3 business is that the problem of fake products has existed from ancient times.
There was already a problem with olive oil fraud during the roman era. Even back then, shipments from one region were being sold as the produce of a more favoured location. Nothing much has changed – except the scale and seriousness of the problem.
Products of dubious origin, purity, or quality now litter our store shelves. Some estimate that a significant percentage of olive oil sold around the world is still faked. Honey, medicines and countless other products are being faked.
What has changed in modern times is the ability to also substitute ingredients. The fake olive oil may not just be from a different company than the one listed on the container, it may not even be olive oil.
In the worst examples, fake products can even contain dangerous or toxic substances.
These frauds result in a massive number of deaths each year. Interpol estimates that over one million people may die just from fake medicine each year. That figure does not take into account those that are injured or poisoned by taking something they trusted.
TBSx3 can defeat counterfeiters
The Determination Behind TBSx3
The moment TBSx3 was created was when Mark Toohey, our founder, was researching the scale of the fake products problem and discovered just how bad the situation is.
He was shocked to learn of incidences in US hospitals when cancer patients were given fake chemotherapy.
As a cancer survivor himself (throat cancer in 2010), the grim fact that others had been given fake chemo made him determined to solve the problem. He knew he is only alive today because he received genuine chemo. The fact some criminal cheated others out of their last chance at life was simply unacceptable.
He understood blockchain technology and knew it held the answer. That ‘incendiary’ moment caused him to close his law firm and dedicate himself to fixing the problem.
Many others have now rallied to the cause.
Our staff have taken the plunge to join a start-up venture and leave behind the security of traditional careers. They are keen to build the technical solution.
The management of some of the world’s largest supply chain companies can see the need for a better, more reliable and safer logistics system.
We have been genuinely surprised by the strength and generosity of the support we’ve received from our alliance partners.