Eco Blockchain Supply Chain Startup Doubles Client Base

            In recent years, the attention of blockchain devs has begun shifting away from the oversaturated cryptocurrency market. Instead, companies started exploring ways to integrate the improved data retention functionalities provided by blockchain solutions into existing industries that deal with sensitive data.

 

         How Have Such Solutions Been Implemented So Far?

 

            For instance, UrbanChain, a green energy platform offering its services to local councils, hotels and other UK customers, has also met with success this year – one they hope to expand overseas shortly.

Foodsteps – a “farm-to-fork” platform that aims to help companies and individual consumers reduce their carbon footprint by shopping consciously – has had an amazing start to 2022, more than doubling its client base compared to 202.

            The company is one of several British enterprises looking to improve the quality of life for the average Joe, all while alleviating the problems menacing the world that we all live in.

            Following a seed round coordinated by Octopus Ventures, Foodsteps now seeks to grow its operations, hiring tech-savvy blockchain enthusiasts eager to make the world a greener place.

Foodsteps maintains a database of thousands of ingredients – a database that consists of production data, environmental impact, and more, allowing wholesalers to pick and choose what companies to do business with in order to have as little impact as possible on the environment. This also allows the consumer to make informed decisions while out shopping via QR codes that pass all this information on.

            These aren’t the first blockchain-related attempts at supply chain sustainability – most notably, Hedera Hashgraph has done something similar in a project aimed at dairy, and other food staples. However, having multiple platforms to choose from is a sign that the world at large is becoming more eco-friendly – and the blockchain sphere should do all it can to help.

How exactly does blockchain help with maintaining quality standards in the food industry and elsewhere?

 

            Blockchain, at its core, creates an unalterable record of every transaction – or, in this case,  of the movement of an ingredient from its origin to the final consumer. Each step in the supply chain, from production to distribution, can be recorded on the blockchain, enabling consumers and quality assurance analysts alike to trace the journey of the ingredient. Once data is recorded on the blockchain, it cannot be altered retroactively.

Blockchain technology enables real-time monitoring of ingredients as they pass through the various checkpoints of a supply chain. Sensors and IoT devices can be integrated with blockchain networks to collect data on variables such as temperature, humidity, and while the ingredients are in transit. Any deviations from the optimal conditions that may affect the quality of the ingredients can be detected promptly, allowing for timely intervention that will prevent loss of revenue down the line.

For companies that wish to lean even further into the automation of their supply chain, instead of merely using blockchain to safeguard the quality of their merchandise, smart contracts can help pick up the slack.

These are self-executing contracts with the terms of the agreement directly written into code. These contracts can automate various processes in the supply chain, such as quality inspections, compliance checks, and payments. For instance, smart contracts can trigger alerts or actions if certain quality thresholds are not met, ensuring that any merchandise not up to spec can be removed from circulation.

This traceability allows everyone involved to scope out the source of any quality issues quickly, and, more importantly, with great precision. This feature ensures that the information regarding the quality of food ingredients remains tamper-proof and trustworthy. If any party attempts to manipulate data, it will be immediately evident, that the data has been tampered with. Furthermore, the person or entity behind the attempted change will be immediately exposed, since public ledgers do not allow for anonymous edits to the information contained on a blockchain. Multiple successful businesses – Chainalysis chief among them – have repeatedly demonstrated high levels of success in tracking down the entities behind fraudulent and/or illegal transactions that have been carried out on the blockchain.

         How is VBRLabs contributing to modern supply chains?

 

            For the past few months, we’ve been hard at work putting the finishing touches to our Supply Chain On Blockchain software solution, which will help our partners maintain their inventory, monitor the quality of their goods, and ensure timely delivery of merchandise to their various storefronts.

Our software both pre-empts customer dissatisfaction by ensuring substandard merchandise never makes it onto shelves, and helps the company identify the point of failure should a legitimate complaint be brought up due to unforeseen circumstances, human error and so on. This will also help our clients reduce unintended dangers to public health, which in turn contributes to the fulfilment of their social responsibility goals.

In the event of a food safety issue or product recall, our software solution can streamline the process of identifying affected batches and removing them from the market, saving countless man-hours that would otherwise be wasted inspecting thousands of crates manually.

The consumer does not need – or want – to know why his groceries seem less appetizing than usual. All the consumer needs to see is freshly stocked shelves full of produce of the highest quality. By maintaining this standard, the provider also ensures the customer returns to shop there instead of choosing a competitor with a less secure supply chain.

However, should our clients prefer to include their customers in the loop, we provide the tools for them to do so. Consumers can scan QR codes linked to the supply chain – updated in real-time – in order to view the entire journey of the ingredient from farm to table, including information about its production practices, testing results, and ethical considerations.

 

            Therefore, our software – which will go live shortly in a pilot program carried out with several noteworthy local suppliers and manufacturers – will help ensure future growth, customer retention, and a padded-out bottom line for our partners by improving customer satisfaction by addressing the reasons behind the scenes.