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Blockchain Application for Supply Chain Traceability
This technology offer is a blockchain-based platform, for B2B and B2C data management and traceability of information along supply chains. It allow users to address problems such as product counterfeiting, frauds and supply chain fragmentation.
The technology is a dedicated web-based decentralized application (DApp), and access to the service is provided on a cloud model over the internet to allow companies of any size, including SMEs, to easily onboard.
This "plug-and-play" technology allows immediate deployment and enables users to employ a reliable and cost-effective digital tool to communicate transparency and visibility along supply chains, from the origin of products to final consumers.
Technology Features, Specifications and Advantages
This technology leverages on the powerful and innovative features of blockchain distributed technology, providing integrity and quality of data to create a favorable ecosystem for traceability and transparency of information.
This technology is a decentralized software application (DApp) for supply chains management with a friendly user interface to enable actors to share information such as provenance, date processed, quality certificates, etc., through printable QR code tags, preserving privacy and supporting transparency.
Blockchain technology is seamlessly integrated into the foundational layer of the software architecture to ensure immutability and integrity of data.
The platform records information collected to empower producers, distributors, auditors and consumers with real-time visibility of the supply chain to trace products from origin to point of sale.
The underpinning blockchain technology is a digital record of verified transactions that cannot be altered or tempered with, and it is used to ensure integrity of data. Blockchain-verified contents are accessible simply by scanning the printable QR code labels generated by the platform with any QR code reader (e.g., smartphone).
The platform can be integrated with existing software and hardware already in use. Customized solutions can also be developed to create new business models.
The application has a dedicated user interface for supply chain actors such as producers, distributors or manufacturers across the industry, most suitable for sectors such as Food and Textile.
This technology enables the creation of new business models that leverage on quality data to add value to the products by providing data integrity, providing transparency of information to final consumers.
The global supply chain management solutions market is expected to reach a value of $32.9bn by 2026, where the business value added by blockchain is expected to reach $9.85bn by 2025.
Some areas that can benefit from the use of this technology :
- Digitalization through the latest technologies
- Creation of new business models
- Add other users and interoperability with other technologies
- Increased brand reputation and customer loyalty
- Transparency and real-time visibility of information
- Provides authentic information to back claims on sustainable practices
- Enables circular economy to reduce waste
- Established accountability and promotes authenticity of data
- Immediate traceability in case of product recall
- Disintermediation and de-bureaucratization of processes
- Low running cost
- Immediate access to critical information to facilitate compliance with standards and regulations for greater product security (quality control, audits, etc.)