Home Blockchain 3 Ways Blockchain Enables Traceability In The Consumer Product Supply Chain

3 Ways Blockchain Enables Traceability In The Consumer Product Supply Chain

by Abigail Bautista

The global supply chain is a complex network that involves the extraction of materials, the manufacturing process, and the distribution of products to retailers. With the advancement of technology, the supply chain has become more efficient and accurate. Now, blockchain technology is being integrated into the supply chain, along with sensors, RFID tags, and novel Datamatrix codes, to provide a transparent and traceable system.

One company taking advantage of this innovation is Shping, a consumer rewards app that has partnered with IBM. Through IBM Food Trust, a blockchain-based platform, Shping is able to offer consumers comprehensive information about the origin and journey of products bought at supermarkets and other retailers. Users can scan a barcode and a Datamatrix barcode to access traceability data, including the product’s source, transportation, and distribution. This not only benefits shoppers by providing full product traceability, but also allows manufacturers and brands to showcase their transparency and quality.

The diamond industry has also faced challenges in terms of ethical sourcing and counterfeit diamonds. Brilliant Earth, a retailer of ethically-sourced diamonds and jewelry, is using the Everledger blockchain to track the provenance of precious stones. This gives buyers the assurance that the diamonds they purchase are indeed ethically sourced. The blockchain records the entire chain of custody, from mine operators to jewelry manufacturers, ensuring transparency and trust in the diamond industry.

In the cocoa industry, there have been reports of child labor and slavery in countries such as Ghana and Ivory Coast. Tony’s Chocolonely, a Netherlands-based chocolate company, is working towards creating a slavery-free chocolate industry. It has partnered with Accenture to create its own blockchain platform, which is used together with its suppliers in the Ivory Coast. Through the blockchain, Tony’s can trace the origin of its chocolate, ensuring that it is not produced using unethical practices. The company records data at different stages of the cocoa processing, from bean collection to the final product on the shelves.

These examples demonstrate the potential of blockchain technology in improving transparency and traceability in various industries. By recording and storing data immutably on the blockchain, companies can provide consumers with accurate information about the products they purchase. This not only enhances transparency and trust, but also allows consumers to make more informed choices based on their values and preferences.

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