Bank of America Corporation
BLOCKCHAIN-BASED SUPPLY CHAIN SMART RECALL

Abstract:

A method for executing a smart recall of a plurality of manufactured units is provided. The method may include, inter alia, using a database architecture to administer a supply chain for the units, assigning each component of the units a distributed ledger (blockchain) identification (ID), and additional pieces of information such as a serial number of the component, a date of manufacture of the component, a location of manufacture of the component, an ID associated with the source of the component, and/or the ID(s) of one or more subcomponent unit(s) of the component. The assigned information is stored in the database architecture. The method may also include generating a private database supplier key and a manufacturer key. The method further includes: transmitting a notice to downstream manufacturers, transmitting a notice to a regulatory agency to implement safety procedures and/or unit and transmitting a recall notice.