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Blockchain platform for traceability of products and data management along supply chains. Enables transparency and full visibility of supply chain from origin to consumer.
About
Foodchain is a platform for supply chain data management that provides businesses a tool for traceability of products, quality control and data security using blockchain technology. We provide businesses a plug-in solution to address issues such as counterfeiting of products, frauds, supply chain inefficiency, food waste, poor consumer engagement and weak data security. Foodchain platform helps organisations follow the journey of their products from origin to point of sale to communicate transparency, safety and quality of products. Through Foodchain web application (DApp), the system tracks and traces materials and products using a distributed database and smart contracts to securely store information along the supply chain in an immutable way, establish data ownership and automate business procedures. Once the information is entered into the system, the underpinning blockchain infrastructure validates the data across a decentralised network, using cryptography to ensure that records cannot be altered. The system generates a digital registry of transactions that users can access instantly to trace back a product to its origin within seconds, making actions such as product recalls quicker and targeted. Every product or lot tracked in the system has a digital history that is linked to the physical counterpart. We use smart labels such as QR codes and tags attached to the product to enable producers, distributors and consumers to access B2B and B2C real-time visibility of supply chain.
Key Benefits
Management: Plug-in solution, quick deployment Low running cost Full visibility of the entire supply chain Quick quality control and identification of non-compliant items. Reduced data handling time Number of errors reduced Scalability: Can scale up and expand horizontally and vertically Simply add other stakeholder (auditors, traders, logistics, etc) Modernisation: Digitalisation of documentation Modernisation of IT system Improved data management Flexible deployment with customised functions Commercial: Powerful marketing tool to increased brand reputation, visibility Can establish a direct channel to final consumers Operations: Immediate traceability in case of product recall Automatization of business processes via Smart Contract Reduced reaction time in case of error due to live tracking Reduced waste due to better and faster communication Data validation: Digital ecosystem that establishes accountability and promotes authenticity of data Compliance: Immediate access to critical information to facilitate auditing procedures with standards and regulations for greater food security (quality control, audits, etc.)
Applications
The primary field of application of Foodchain technology is the agriculture industry, where we offer solutions to problems such as products counterfeiting, supply chain inefficiency, food waste, poor consumer engagement and weak data security. The expertise matured over the years, enabled our solution to reach also other fields such as textile, automotive, energy, telecommunications, smart cities and government projects. Our final goal is to provide a cross-industry global digital infrastructure that supports the evolution of the IoT network.