The Cardano foundation has announced a partnership with Scantrust, a supply chain traceability solution, in order to streamline the supply chain management process, as well as optimising security.
Scantrust is a company that uses QR codes to bring products online, and aims to turn products and packaging into a “direct connection with consumers”. The company provides protection from counterfeiting, supply chain awareness, and consumer engagement, using blockchain technology to secure, track, and create consumer interactivity with a QR code.
Current Scantrust partners include HP Indigo, Hyperledger, and SAP, and the company has worked with Fortune 500 companies and SMEs across 168 countries.
One of the areas that blockchain technology has revolutionised is the supply chain. Blockchain solutions have allowed companies to trace, track, and empower the producer and consumer. A number of traceability companies have emerged in recent years, covering industries from food, textiles and high-end consumer products. What they share in common is the ability to create true transparency from the start of the supply chain all the way through to the consumer.
Advancing innovation in blockchain technology has allowed companies to promote their ethical approach to consumer goods, increase transparency, and secure against counterfeiting. Frederik Gregaard, CEO of the Cardano Foundation, commented on the partnership with Scantrust:
“Empowering trust and transparency across all industries and digital agreements is at the heart of the Cardano Foundation’s missions. I am proud of our Integrations team, who have worked tirelessly with Scantrust to deliver the first solution of its kind to leverage metadata on the Cardano blockchain. Together with Scantrust, we are helping brands to reconnect with their consumers, increase transparency in their supply chain, and fight counterfeit activity.”
The partnership between Cardano an Scantrust will allow companies to access secure, traceable products, while making the most of the Cardano platform's low fees and security.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.