The Blockchain-Based Sustainable Supply Chain Solution
28th June 2023
In the modern world, businesses must have sustainable supply chains and trustworthy data. This is necessary to remain competitive and follow regulations. TRST01Chain is a blockchain-based solution that offers a revolutionary way to achieve these goals. It guarantees compliance with strict environmental regulations such as the European Union Deforestation Regulation (EUDR) and highlights the significance of data in the current agri-business environment.
At TRST01Chain, data is the foundation of their operations. It helps ensure transparency, compliance, and efficiency throughout the supply chain process. The company believes accurate and dependable data is essential for successful business operations, reducing risks, and making informed decisions. By utilizing data, TRST01Chain is leading the way in providing businesses with the necessary tools to navigate the demands of modern markets and environmental regulations.
The EUDR is a significant policy that only permits deforestation-free products to be sold in the European market. This policy presents a substantial obstacle for agri-businesses, as they must provide extensive evidence that their harvests come only from fields that have yet to experience deforestation after December 31, 2020. Businesses are tasked with collecting, managing, and securely storing a large amount of farm-level data, including field coordinates, crop counts, and deforestation checks, for a duration of five years. It is essential to ensure data quality during audits to complete this process.
Meeting the strict EUDR requirements can be challenging, particularly due to the absence of initial traceability in most supply chains. Fortunately, TRST01Chain provides a robust solution that includes four essential tools to address these requirements: field mapping, compliance, data quality assurance, and blockchain-based immutability.
Our field mapping tool utilizes satellite-aided polygon mapping and on-the-ground quality checks through a mobile app to accurately map the fields of associated farmers, collectors, and suppliers. This process guarantees the acquisition of EUDR-proof data.
TRST01Chain’s compliance tool offers meticulous first-mile traceability for every bag of commodities, tracing them back to a deforestation-free plot that was previously mapped. The tool also includes a data quality assurance feature that ensures reliable data collection, linking harvests to their respective fields and storing traceable data securely for over five years.
These tools come equipped with essential features like GPS digitization, polygon quality verification, yield parameters, deforestation checks, crop allocation, farm organization, and real-time dashboard creation. They allow businesses to manage risks, meet market requirements, facilitate collaboration between companies and suppliers, and make informed decisions that improve farming operations and increase profitability.
In addition, the solution uses the unique characteristics of blockchain technology to guarantee that data remains unchanged and secure. Once data is entered into the blockchain, it is impossible to modify or manipulate, which makes it an effective defence against fraudulent behaviour and supports the accuracy of the recorded data.
In addition, the significance of data extends beyond compliance and into the realm of strategic decision-making. The TRST01Chain solution equips companies with a comprehensive dashboard providing real-time visibility into their supply chains. By using data effectively, companies can gain critical insights into their operations, identify bottlenecks, mitigate potential risks, and make informed decisions that drive efficiency and profitability. This data-driven approach enables businesses to adapt to changing market conditions, anticipate future trends, and stay ahead of the competition.
Data has the power to promote collaboration and trust. TRST01Chain’s supply chain solution is transparent and traceable, which helps businesses build stronger relationships with suppliers and partners. By sharing data openly, all stakeholders understand supply chain operations clearly, which leads to increased trust and collaboration.
In addition, data can also benefit consumers by providing them with more power. As people become more conscious of environmental and social concerns, they want to know where their products come from. TRST01Chain’s supply chain traceability system, which uses blockchain technology, allows consumers to confirm the sustainability claims made by brands. This helps to build trust and can influence their buying choices.
TRST01Chain’s services rely heavily on high-quality and accurate data. Therefore, data quality assurance is crucial to ensure that all information about crop origins, quantities, and deforestation checks is precise, complete, and reliable. This meticulous approach to data verification helps reduce errors and ensures compliance with EUDR regulations, which prevents companies from losing access to the European market.
Additionally, TRST01Chain offers real-time data that serves as a proactive risk management tool. By maintaining visibility into supply chains, companies can identify and mitigate potential risks early on. Blockchain integration also enhances stakeholder trust by providing high levels of data transparency through decentralized and tamper-proof data storage.
To sum it up, TRST01Chain is an essential tool for agri-businesses to meet market and environmental regulations. Its focus on data quality ensures compliance and promotes sustainable and profitable operations. By effectively using data, TRST01Chain helps turn challenges into opportunities for growth and sustainability, highlighting the importance of data in the agri-business landscape.
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