Blockchain traceability brings significant benefits to consumers

BLOCKCHAIN
TRACEABILITY
Blockchain traceability brings significant benefits to consumers

08/04/2020

Why Blockchain traceability important

In developed countries, traceability is familiar to consumers, but in most developing countries, this term is quite strange to them. To get anyone on the same page, we would like to define the definition of “traceability”. According to the International Standards Organization, traceability is “the ability to trace the history, application or location of an entity, by means of recorded identifications”. If you feel hard to read whole the sentence and understand it, here is the simpler one for you, traceability just like a tool for consumers or organizations to get tracking information or history of the product journey. For example, with traceability, consumers can know details about a product they are considering buying like product origin, producer, ingredient, how the product was made or grown, etc. Traceability helps consumers have a comprehensive knowledge of the products they are going to buy. Then, they can answer whether the products are safe, friendly to their health and environments.

However, smart consumers will question the information provided by the traceability solution of businesses. Is the traceability information trustworthy? Is it transparent? Is all the information they provide are the truth?

Their question is reasonable. Businesses offer traceability solutions as a tracking tool for their consumers, and all the information is controlled, input by the companies and the solution is built totally on their systems. This leaves a big concern for consumers to trust in the traceability information.

Understand this shortage in current traceability solutions, many organizations have developed the traceability system on Blockchain platform. The reason they apply Blockchain for traceability is that information once stored on Blockchain is permanently immutable and unmodifiable, as well as undeletable. Therefore, businesses have to be honest with the information updated on Blockchain, thus, gaining the trust of consumers.

Consumers now struggle with choosing products that are good for their health and friendly to the environment, or not buying wrong or fake products. They also need to have full adequate information of the product brands, instruction to use and adequately maintain the products. Traditional traceability offer consumers tracking the history of products, but not the trust. Due to the lack of transparency of traditional traceability, businesses can hardly obtain consumers’ trust and loyalty. Blockchain traceability helps consumers track the journey of products, give them trustworthy information about how the products were made, transported, distributed to them. All the information is totally transparent; therefore, Blockchain traceability is the ideal tool for gaining consumers’ trust in the brands.

Benefits of Blockchain traceability for consumers

Transparency: Blockchain provides traceability, provenance, and transparency of information. Every transaction of products in the supply chain is recorded with time-stamped proof. The time-stamp proof presents undeniable evidence for building trust. Therefore, Blockchain enhances transparency and trust in the supply chain.

Security: Blockchain data are permanent in blocks that cannot be altered or tampered with, making fraud more difficult, and easy to spot. Consumers are reassured that companies cannot lie to them by changing product information to hide the true origin and movement of the product through the supply chain.

Trustworthy: Blockchain is a neutral open platform. It is open to everyone to take part in and get information. In the application of traceability, every stakeholder in the supply chain, including the raw material supplier, producer, transported, distributor, retailer can join and update their information relating to the products. Thus, no company can manipulate all the traceability information of the product journey throughout the supply chain. Consumers can trust and ensure the traceability is transparent and unmanipulated.

Real-time information: Unlike centralized system, Blockchain is the decentralized system with the joining of thousands of computers to validate data at every second. Blockchain doesn’t require an operator to input data into the system manually. That’s why Blockchain information can be updated 24/7 easily by everyone from the truck drivers, warehouse pickers to store sellers. Consumers can get the latest status of the product instantaneously when it’s updated.

Ease of use: Tracking information from Blockchain is easy to read based on the sort of time-stamped series and identity of user input. Companies can add more details of their products like product description, user instructions, expiry date, etc. to help consumers use their product safely and correctly.

Example of a typical Blockchain-based traceability

To let everyone can imagine how a Blockchain traceability solution for consumers look like, we would like to introduce the real one from WOWTRACE — a Blockchain-based traceability solution that brings sustainable growth and transparency to the supply chain across Asian countries. We also drop the QR code here for everyone to try traceability solution just by scanning the QR code by any application with QR code-scanning function on smartphones.

 

                                                                                  Scan for demo

                                                               Overview of WOWTRACE Block Explorer
 

                                                                    WOWTRACE’s block explorer

Full screen of WOWTRACE block explorer

                                                                 WOWTRACE’s block explorer

This product description field shows the general information about the product i.e., name, production date, expired date, product description; and important information about the product’s origin, producer, certification, actual pictures of the products

 

                                                                       WOWTRACE’s block explorer

This is the field of traceability information which including product journey, transaction ID on Blockchain, and details of supply chain stakeholders

About WOWTRACE

WOWTRACE is a completed ABCD (AI, Blockchain, Cloud, Data) Traceability Solution that brings sustainable growth and transparency to the supply chain across Asian countries. Thereby, all stakeholders achieve end-to-end visibility and control over their operations on the supply chain.

Learn more about WOWTRACE at: https://www.wowtrace.io/

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