Fake and tampering in the Supply Chain is a bitter truth and we want to use Blockchain technology to improve anti-counterfeit measures in different industries and have a significant positive social impact. Currently we are trying to use Blockchain for a Consumer Beverage supplier to track its supply chain from Farm to Cup. We are also applying the same technique for tracking the counterfeits for luxury fashion houses.
According to an article by Jon-Amerin Vorabutra the advantages blockchain technology brings to the supply chain community could be listed as follows:
Enhanced Transparency. Documenting a product’s journey across the supply chain reveals its true origin and touchpoints, which increases trust and helps eliminate the bias found in today’s opaque supply chains. Manufacturers can also reduce recalls by sharing logs with OEMs and regulators.
Greater Scalability. Virtually any number of participants, accessing from any number of touchpoints, is possible.
Better Security. A shared, indelible ledger with codified rules could potentially eliminate the audits required by internal systems and processes.
Increased Innovation. Opportunities abound to create new, specialized uses for the technology as a result of the decentralized architecture.