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    Introducing Confidex by ONDC

    • ONDC
    • By   ONDC

    Trust is a major component that allows for a transaction between a Customer and a Seller. Trust is necessary at various stages of the transaction - be it for the product, or the money flow or in handling any form of issue / grievance.

    The paramount objective for the Network's success lies in establishing transparency and trust. As the ONDC Network expands, assuring consumers and Network Participants that even in an unbundled environment, accountability can be pegged is paramount. Accountability leads to a Network wide Rating / Scoring which has been developed to offer insights into the performance of entities involved in the digital transaction such as Sellers, Customers, Seller Apps, Buyer Apps, Logistic Service partners, and even Delivery agents.

    Introducing Confidex™, a Blockchain-based solution is being developed with the help of a community based on the CORD blockchain network, open-sourced by Dhiway. This innovative solution will play a pivotal role in facilitating various use cases within the ONDC Network, contributing to the growth of the ecosystem and providing a framework and digital rails for building trust. One example amongst many would be that of Network level Ratings & Score, which will be hosted on Confidex™.

    Confidex™ will provide a basis for building an immutable ledger to store the Network Score, thereby facilitating the entire Network ecosystem to establish One pinning source of truth for the Network performance.

    Confidex™ is being developed using CORD Network (a federated distributed ledger infrastructure). It is an open-source, layer-one distributed ledger project that revolutionises information management by harnessing the transformative potential of cryptography and designed for population scale.

    Once the foundation is laid out, Confidex will pave the way for many other  use-cases, such as Loyalty, Badges & Certifications, to name a few, that require a decentralised framework to be established.

    Tag:

    ONDC

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