WWF launches blockchain tool for supply chain tracking
WWF of Australia has declared that it has started a blockchain built tool for tracking supply chain. The tool is developed jointly by WWF and BCG Digital Venture, a Boson based firm dealing with corporate investment and incubation.
The tool developed is named as OpenSC, it will help the consumer and the business to keep track of the food supply chain. It helps both the parties to avoid any illegal, harmful to the environment or any other unethical goods thus improving the transparency and accountability of the supply chain.
OpenSC allows you to see the entire route of the product right from its origin to the end point. As and when the product is acquired the data gets added to the blockchain, that can be checked by the customer. The consumer can discover the actual source of the product by scanning the QR code through their smart phone.
The digital ledger of the blockchain technology keeps the information tamper-free. It keeps the entire information about the product on the supply chain and keeps the data tamper-proof. The records like when and where the product was acquired, its social and environmental certification or any other related information can be found on the supply chain and is reachable to everyone.
WWF intends to use this process to certify all the food and paper products including fishes to establish that their products are not a result of illegal harvesting of forest or forced labours.
Today a growing population of consumer prefers to buy products that are ethical and sustainable. The purchasing decision of the consumers reflects their social and environmental concern. Quality and the price of the product also plays an important role.
The manufacturer, on the opposite side, will not be in the position to hide the doubtful sources and manufacturing practices of the product in the disguise of the supply chain.
Improved transparency is the leading cause why blockchain is getting used outside the land of cryptocurrencies and is finding its use in various other fields including supply chain. Swiss meal producer is also making use of Ethereum Blockchain to track fish merchandise. Another company FedEx is using decentralized registers to increase the efficiency of the supply chain.
The blockchain is already in use to address various issues right from storing to supply Tuna fish or reduce the effects of greenhouse gases or to boost solar power projects.