Blockchain and traceability are intended to provide consumers with access to information on the origin and distribution of a product, allowing them to reliably know its origin and characteristics.
But what is traceability?
The term traceability can refer to the origin of raw materials, the history of the processes applied to the product, the distribution and the location of the product after delivery. A traceability process involves collaboration between the different actors in the supply chain.
And what is the Blockchain?
Blockchain can be defined as a communication protocol distributed across network nodes, decentralised and without intermediaries, immutable, transparent, which does not eliminate the traceability of transactions.
Did you know: Blockchain Technology is revolutionising Traceability
Blockchain is opening a new paradigm regarding the exchange and storage of records, building a system in which information is decentralised and participants share information at the same level. Traceability is therefore seen as a necessity for organisations, as it will give greater value to the product itself, improving the image of entities and making them transparent.
Importance of traceability with Blockchain
Thanks to traceability we can determine exactly, for example, which batches are affected and where they are located. In addition, we can detect non-conformities during the process and apply the necessary corrective measures with a much greater capacity to react, among other aspects that we will mention later.
What is the use of the Blockchain in traceability?
1. It facilitates the withdrawal of a product from the market. If, for example, a problem is detected, it will be known precisely and accurately which batches of products are affected and where the source of the problem is.
2. Provide consumers with information on the origin and handling of the product.
3. It certifies the quality of the products, since by knowing the whole process it is possible to know better the ingredients that compose it and its origin.
4. It guarantees safety, as a product will be safe if it has been handled correctly at all points in the production chain.
Blockchain Technology guarantees safety and reliability
As mentioned above, the use of Blockchain technology in the field of traceability makes it possible to securely track the location and status of products throughout the entire supply chain, which in turn makes it possible for all actors in the process to access the information collected at each step.
Let’s remember that the Blockchain and traceability provide users and/or consumers with detailed information about the product and its quality, ensuring safety, reliability and efficiency, as well as preventing counterfeiting. By giving them information you will see all kinds of details that make up the quality of the product they are going to buy.
Find out more about Blockchain and Traceability by reading our article: “Traceability of your processes with Blockchain”.