The Cardano Foundation has launched a new supply chain anti-counterfeiting and traceability solution ‘Cardano-Scantrust’ through a partnership with Scantrust. Cardano-Scantrust will reportedly see brand owners revel in the benefits that Scantrust’s secure, physical QR codes offer for specific data functionalities and traceability. It will also offer them access to the speed and low cost of the Cardano blockchain to track supply chains and protect against counterfeiting.
According to the press release, the Cardano-Scantrust was first revealed in December last year. A Georgia-based artisan wine producer, Baia’s Wine, will reportedly join Cardano and Scantrust for proof-of-concept (PoC) integration of the solution into their supply chain. Backed by three generations of expert winemakers, Baia’s Wine is a family owned vineyard that currently exports its wine to more than 12 countries.
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In the above agreement, the Cardano-Scantrust solution will merge metadata from the Cardano blockchain with distinctive and traceable QR codes from Scantrust. You will then incorporate this information into Baia wine bottles, which are destined for international markets. Through this addition, wine buyers will be able to get clear data on their drinks, as relevant information will be aggregated at each stage of the wine supply chain.
Opening new paths
The implementation of the proof of concept with Baia’s Wine marked the first time that Cardano’s metadata was used commercially. To accomplish this feat, Cardano developed a verification solution that enables the use of the Cardano blockchain as a public auditing platform. In doing so, the solution enables secure logging of supply chain data and authentication of product origins. In addition, the solution allows the verification of organizations involved in the supply chain.
Commenting on this development, Nathan Anderson, CEO of Scantrust, said that the synergy between Scantrust’s connected goods platform and Cardano’s transactional metadata would allow brand owners to provide consumers with transparent but easy access to the origin of goods. products they buy. According to him, this will help boost consumer confidence when buying items.
This news comes after the International Chamber of Commerce projected that counterfeit goods and piracy will cost the world £ 3.04 trillion by next year. This will affect many people, as most consumers cannot be sure that the products they buy are genuine.
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