Category: NEM (XEM)

Empowering transparency and sustainability in Supply Chain through Symbol blockchain

Empowering transparency and sustainability in Supply Chain through Symbol blockchain

Trackgood is a supply chain tracking and sustainability impact tracing tool that is trusted, low-cost, and easy-to-implement – thanks to Symbol blockchain.

Challenge

Consumers are increasingly demanding of the brands they buy from, with 96% believing that recycling and buying ethically can make a difference. 88% of consumers want brands to help them to improve their social and environmental footprint.

However, 69% of businesses still have no visibility into their supply chains (BCI Supply Chain Resilience Report, 2017), with 95% of 5,300 home and family products struggling to substantiate their green or ethical claims. The problem is even more acute for smaller businesses, with just 6% having supply chain software installed.

Authenticity is key. The ability to substantiate and validate ethical sourcing claims throughout the supply chain is essential to the viability of all ethically-minded brands, with transparency across the supply chain helping to build consumer trust in what and who they buy from.

Trackgood wanted to help businesses of all sizes establish supply chain transparency and sustainability impact tracking in an affordable, easy-to-use way.

Approach

Trackgood created a track-and-trace tool that is focused on empowering sustainability by enabling brands to share their impact data and even link each step of their supply chain to the UN’s Sustainable Development Goals (SDGs) that they are working on.

This allows end-consumers to make more informed decisions about their purchase and consumption, safe in the knowledge that they are making a real difference and contributing to the world around them.

Trackgood is incredibly easy to use, with a simple set-up process and clear and simple pricing – all you need is a smart phone.

The technology allows Trackgood customers (ie. brands) to showcase a series of supply chain steps with absolute integrity.

1. Trackgood allows device authorisation for scanning QR codes on products and geo fencing for additional security.

Empowering transparency and sustainability in Supply Chain through Symbol blockchain

2. Each scan is then securely recorded on Symbol blockchain.

Empowering transparency and sustainability in Supply Chain through Symbol blockchain

and 3. sustainability metrics can then be presented in real time with tracked data.

Empowering transparency and sustainability in Supply Chain through Symbol blockchain

This allows brands to easily build transparency into their supply chains and confidently showcase their sustainability credentials.

Trackgood was accepted as the first NEM Ignite Incubator Programme by NEM Ventures in April 2020.

The early prototype went live in Q3 2019 using NIS1 public chain and Trackgood will migrate across to Symbol at mainnet launch. Trackgood will officially launch in November 2020 with 3 pilot brands already committed to work with the tool.

Benefit

Trackgood enables brands to build transparency in their supply chain with ease and share their impact with consumers with confidence. Authenticity and trust are backed by Symbol blockchain technology.

Trackgood is for all positive change makers, for example, an ethical fashion brand wanting to show their impact data more clearly and in real time, reinforcing their ethical positioning or even an established business looking to integrate sustainability more into their business model. John Hussey, Co-Founder Trackgood

trackgood.io


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This article was originally published on: The NEM Blog on