Introducing our cutting-edge Blockchain-based Traceability System. Our solution, designed for end-to-end traceability, seamlessly registers and tracks ESG (Environmental, Social, and Governance) data at the production level. This comprehensive tool caters to the needs of various sectors, from food products to fashion, energy, consumer goods, and health and beauty products, ensuring an elevated level of accountability and transparency.
Tapping several different scaling options when determining how to expand their pilots.
What Producers Need
- Better Prices
- Access To Payments
- Access To Capital
What Intermediaries Need (Processors, Packagers, Wholesalers, Imp & Ex, Distributors, Retailers)
- Quality Control
- Assurance Traceability
- Verify, Trust, Security, Authenticity Track Chain Of Custody Throughout The Supply Chain
What Consumers Needs
- Better prices Better Food/Product Quality (Counterfeit, GMO & Pesticides, Food Fraud)
- Enhanced Transparency
- Traceability & Verification
What The Environment Need
- Sustainability in farming process
- Deforestation tracking data
- Data sources for ESG validation
What Society Needs
- Better Traceability of origin of products through chain
- Fare compensation to original producers
- Less Middle men within supply chain
- Track illegal labor use in production process.
Eco Track tokens change hands across the supply chain, the transactions involved, and the type of data embedded in tokens.
For further details on the automatic workflows executed by Eco Track smart contracts or other stable coins.
Our unique system uses multiple technologies to streamline, automate, and strengthen the supply chain. These include the secure and efficient processing of cryptocurrencies, the automation of agreements through smart contracts, and the development of decentralized applications (dApps) to provide additional functionalities.
This also includes the incorporation of Web3 technologies for enhanced accessibility and usability, and the use of Non-fungible Tokens (NFTs) to represent unique assets or products.
Our product allows producers to capture and verify ESG data, suppliers to ensure responsible sourcing, manufacturers to use responsibly sourced materials, and retailers to sell products with verified ESG data. Consumers, in turn, can make informed purchasing decisions based on the verified ESG data of the products they are buying.
Key Product Features
- Blockchain-Based Traceability: Enables reliable end-to-end tracking and registration of ESG data at the production level.
- Cryptocurrency Transactions: Facilitates secure and efficient payment processes within the supply chain network.
- Smart Contracts: Automates and enforces agreements, including automatic validation of ESG data and automatic payment of fees.
- Decentralized Applications (dApps): Provides additional functionalities, like allowing consumers to track the origin and ESG data of the products they purchase.
- Web3 Technologies Integration: Enhances the accessibility and usability of the blockchain network, including decentralized storage systems for ESG data and decentralized identity solutions for user verification.
- Non-Fungible Tokens (NFTs): Represents unique assets or products on the blockchain network, including products with verified ESG data and certifications and awards for businesses with responsible ESG practices.
While other existing tools (such as Trase and Encore provide data on post-trade impact that can inform future procurement strategies and policies, ESG data inform real-time market decisions that actively prevent the trade of illegal products (either linked to illegal deforestation or illegal labour practices).
The vision is to ban unsustainable producers from selling in their marketplace while incentivising more sustainable producers by granting them:
- Free access to the platform as it is maintained by charging a fee to buyers only.
- Greater profit margins resulting from better price negotiations. On the one hand, the platform eliminates the need for middlemen. On the other hand, Eco Track offers farmers access to strategic market-data, thereby reducing dataasymmetries that have put farmers in a vulnerable position for centuries.
- Prevention of competition from illegal and unsustainable alternative sellers
Furthermore, all users (regardless of their position in the supply chain) can benefit from.
- Access to new markets. The platform facilitates sellers ’ access to registered buyers globally. o Better-informed buying decisions. Buyers can access a broader range of choices and access data on origin, quality and sustainability for all products offered.
- Digitisation of management and signature of contracts.
- Safe trading environment. All participants are identified and checked, data is encrypted, and access is permissioned.
- Enhanced supply chain transparency and traceability. Thanks to the tokenization of volumes of product embedding sustainability data.
- Guarantee of origin and legality (from a producing country perspective) at no extra cost.