WOWTRACE-A Breakthrough for the Future of Agriculture
Kiên Trần Trung April 24, 2019
Vietnam’s Agriculture Industry
Agriculture is one of the most important economic sectors in Vietnam. The country is blessed with an abundance of tropical fruits that are exported to major markets around the world. With a growing demand domestically and internationally, Vietnam is quickly becoming a major key player in world agricultural production.
In supporting Vietnam’s tremendous potential for agricultural development, the local agricultural sector must develop the technological tools necessary to meet higher consumer demands and enhance consumer confidence. An immutable and transparent traceability technology that manages the supply chain would be a significant step towards the future. Such a traceability solution in place enables businesses to better understand, prepare for, and exceed in both regulatory compliance and customer satisfaction.
Who We Are
WOWTRACE is a blockchain-based traceability solution which helps businesses better control their supply chains by getting the information flow more correct with the physical flow. Everyone can easily track and trace the data relating to each item or batches of products from its initial step to the last step in the supply chain. The information flow is transparent and immutable as it's updated on blockchain. Therefore, companies can gain trust from customers to their brand and avoid fraudulent actions, eliminate waste in their supply chain, by which, the better control over the supply chain they have.
In its early stages, the pilot program will be first implemented with Cat Chu mangoes produced in My Xuong Cooperative, Dong Thap province. WOWTRACE will further expand into different markets across the country and Asia region as well as scaling up internationally. WOWTRACE also aims at providing stable and cutting-edge services for different types of fruit apart from mango.
Why WOWTRACE Matters
On the verge of revolutionizing the world, the power of blockchain technology is poised to profoundly impact every industry, region, sector, and life. WOWTRACE delivers practical solutions designed for real-world situations on real-world customers. Powered with blockchain technology and smart contracts, the solution gives consumers a complete view of the product journey in delivering safe and economical products.
Aside from bringing benefits to consumers, WOWTRACE also provides significant advantages to other industry players all along the supply chain. WOWTRACE brings producers a convenient and sustainable means of controlling and monitoring every aspect of their production processes from the source to delivery. They can quickly optimize product quality and freshness while eliminating inefficient practices and fostering consumer loyalty. For retailers, WOWTRACE enables sellers to have precise control over inventories while helping develop market analytics to predict consumer trends. Inventory control and market predictability reduce overproduction and waste, fresher produce, and lower costs for consumers.
Aim to be the leader in Blockchain-based traceability solution, WOWTRACE believes that blockchain technology will pave the way for a new agricultural revolution that is smarter, more efficient, and sustainable. This will stimulate local economic growth by increasing Vietnam’s competitiveness through gains in productivity and trust, thus further affirming the value of the country’s brands internationally.