Company attributes
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VeriTX Corp. is a developer of digital commerce tools built on blockchain and Web3 technologies intended to regulate and create transparency in digital supply chains. The company's marketplace and platform offer to buy and sell digital assets, buy and sell physical parts, and conduct blockchain-based maintenance or lease records subscription services. VeriTX Corp. uses blockchain provenance and 3D printing technologies to enable production to move beyond traditional factories to a distribution network and to enable rapid forensics in the event of a part malfunction or failure. VeriTX Corp. also uses blockchain smart contracts and hashing for data and process integrity.
The company was founded in 2019 by Col. James Regenor (Ret) and Legrand Richard Groves and is headquartered in East Aurora, New York. The company works with MOOG, Embry-Riddle Aeronautical University, Airspace Technologies, AlchemAI, and Algorand to develop its technology platforms.
VeriTX Corp.'s platform aims to help industries including the aerospace industry, medical industry, and industrial manufacturing. This includes through the convergence of Industry 4.0 and Web 3, which VeriTX works to help other companies reach through their platform and related products and applications.
Xelerate is a platform offered by VeriTX Corp., built to offer seamless data and process integrity for digital supply chains. The platform offers a manufacturing execution system and prescribed data management flow that ensures integrity in regulated industries and for industries operating in contested environments.
VeriTX Corp.'s Marketplace is a supply chain marketplace allowing OEMs to upload digital rights-managed part files to an online hub where buyers with the proper qualifications and manufacturing capacity can purchase and download those files. The files are digitally fingerprinted with blockchain hash to protect against counterfeiting, and the blockchain technology used further can protect the provenance of the part designs, with biometrics capable of securing them on the manufacturing side. This works to provide a secure digital marketplace and supply chain.
