Track and trace is a prevalent notion in supply chain management. Tracking and tracing technologies are becoming increasingly critical in New Normal, especially in critical sectors like Agriculture, Food and Healthcare. In addition, these technologies play an important role in logistics processes automation and optimization throughout the entire supply chain.
Blockchain technology has been tagged as the premier solution to the lack of transparency and accountability supply chain. Its implementation aims to create trust amongst the parties doing business and the consumers who utilize the Brand. Recently Studies and Research suggest that, although 90 % of consumers across the age groups read food labels, the majority (81 %) looked only for the manufacturing date or expiry/best before date.TRST01 blockchain technology platform, through the creation and utilization of a combination of emerging technologies such as IoT and AI, enables a fully transparent supply chain.
TRST01 Platform Integration and Deployment features
FOOD SAFETY AT THE CORE IS NOTHING BUT A DATA ISSUE
The food and beverage market is striving (even after the pandemic with the evolution of cloud and hybrid kitchen models), so much so that there is a new entrant with an exclusive product line every day. It is also one of the fastest-growing industries compared to others. The emphasis on the quality and hygiene of the food is probably the most critical factor when choosing to dine or order food. Post pandemic, Food brands are continuously rebuilding assurance, innovating with fresh ideas, better marketing strategies, and newer ways to earn customer loyalty and trust to their tables. And, what is interesting is the role of technology that simplifies and complements business ideas to the industry; one such case is the use of blockchain to demonstrate Traceability.
In the donation sector, a considerable amount of data generated, such as information about donations, transactions, donors. In most cases, there’s a lack of transparency to how much donated funds go to overhead vs helping a cause, Especially when concerning rapid disaster relief, where funds can quickly disappear or fall to wasteful spending with faulty oversight. Introducing blockchain as a way to trace and verify donations would alleviate suspicions around the misuse of funds. By putting all these public transactions on the blockchain, the records become transparent, immutable, and easily trackable, reinforcing the belief or TRUST
PRIMARY PROCESSING: Primary processing involves several different processes designed to sort and remove the inedible fractions before further processing. The location of production, the date and time of the process get recorded, and other essential details such as geo-fencing.
SECONDARY PROCESSING: Secondary processing utilizes the primary product and involves further processing. The date and time of the entire process get recorded to provide an added advantage to customer delight.
FINAL PROCESSING: The final processing involves the usage of machinery and external pressure techniques. The timestamping would also include the person/administrator verifying the entire process.
DISTRIBUTOR: When the product leaves the manufacturing plant (sent to distributor) would also record in the distributed ledger.
QUALITY: Different product validation parameters/checks are generally and regularly carried out by an authorized person. The certificate issued by the issuing authority gets uploaded to the blockchain and embedded in QR Code. Various certifications (as required) for organic produce and land information where seeds germinated/ transplanted produced also added in the distributed ledger.
NUTRITIONAL VALUE: The product’s nutritional facts and benefits are also added to the distributed ledger.
QR Code Generation and Printing: Blockchain-enabled QR code generated and printed on the product’s packaging as the final step.
Consumer scans the QR Code, is directed to a web link and displays all the certifications, the time stamp of all the processes involved, the nutritional facts of the product, and the time it took from germination/production to the utilization of the product.
Producers, manufacturers, distributors, and retailers ensure that only safe, authentic food reaches the end customer. Tracking and tracing the food with blockchain technology’s help ensure transparency..
The products and drugs are sold across all geographies, and tracking the product from the manufacturer to the end consumer is essential. Track and trace can play a crucial role in the pharmaceutical industry. Blockchain technology stops counterfeit drugs.
Settlement of transactions is no longer slow, cumbersome or expensive with blockchain. Cross border payments are typical in supply chains and may drain trillions in system-wide expenditure annually. The time consumed for processing payments, especially for cross-border clearinghouse payment processes, can be drastically reduced with end-to-end visibility supply chain management.
Track and trace have a massive scope in verifying and tracking credentials and other legal documents issued to individuals. In the age of technology, the challenges in Certificates and essential documents getting counterfeited should be addressed on priority. Blockchain technology with Immutablibilty feature with ease of verification provides a robust mechanism addressing this challenge.
TRST01 Blockchain platform technology capability and interoperability fit to support the digital transformation for Agriculture and Food, BFSI, Healthcare/Pharma, Urban Local Bodies, Municipal Corporations, Smart cities, and e-governance country as a whole. At the same time, the areas and sectors majorly benefitted by TRST01 amongst the supply-chain and track & trace includes seed and food traceability to prevent counterfeits and false claims and how public safety issues for consumers are addressed.
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Sailaja is a successful entrepreneur who believes in her passion and dedication. She has a master in business management from Herriot Watt University. She worked as a CEO for a Pharma chain in Hyderabad, and years later, she pursued her dream for pastry and got a degree in pastry from Le Cordon Bleu College, London. She started and established her patisserie in Hyderabad, getting the tastes from Global travel, infused her finesse to products taking her brand a notch higher.
Krishna Vallapu is a technology evangelist and Entrepreneur, graduated from Nagarujuna University and trained in IIM, Ahmedabad. Proven track record in building futuristic products, surpassing goals, and expectations for quality. Superior expertise with developer supervision and client relations. Out of box thinker who thrives in collaborative environments, working across business and technical teams.
Inder has an MBA in Finance in India. Utilizing his Finance background he rose through the ranks in the banking sector in the US and then after receiving his MS in Healthcare Services Administration he started his career in healthcare at the Tufts Medical Center, Boston.
Inder’s growing understanding of the expanding role of technology in healthcare caught the attention of the bureacracy and was invited to work on the Patient Privacy and Electronic Records Committee for the State of Massachusetts and later on at the State of Georgia Department of Health and Human Services. These were in the years immediately preceding the development and roll-out of Health Insurance Portability and Accountability Act (HIPAA).
Sensing a rise in ERP movement, Inder joined a software company and worked on managing ERP solutions projects in the manufacturing sector where his clients included the Coca Cola Company, Sara Lee, International Paper, Siemens (Canada) etc .
In 2008 he came to India with the aim of realizing his cherished dream of working in India. He served as the CEO of a EMR software company, and later on led the Digital Transformation at several hospital groups as a group CIO and Vice President. Inder has to his credit, several published articles in national and international healthcare technology management and as an invited speaker at various private and government conferences. He has also been cited in several articles and studies including one at the National Library of Medicine in the USA.
In his spare time Inder indulges in travel and reading.
A versatile and passionate leader with 20+ years of expertise in IT Business & Product Strategy, Market Access & Distribution models and Talent Acquisition. Seasoned Investor. Founded multiple successful businesses & Angel Networks.
An IIM – K alumnus, before embarking on his successful multi sector entrepreneurship journey, Puru served various Fortune 500 companies in Senior Leadership roles. His last corporate stint was with Bank of America.
Suraj is an entrepreneur, with more than 2 decades of experience in creating various successful enterprises, a seasoned investor funded multiple startups, specialize in creating healthcare delivery infrastructure, board member and strategic advisor, skilled in Healthcare, Telecom, IT Strategy and Market outreach.
A Technology Leader and Entrepreneur with a proven track record of building and managing innovative solutions in digital content delivery. Demonstrated history of delivering strategic solutions in Cable, Media & Entertainment industries. Expertise in building interactive ad solutions, advertising platforms, Live Streaming(QAM, OTT, PPV), subscription-based Video (SVOD, AVOD, TVOD) services, Cloud DVR, and Broadband/WiFi services at scale across a multitude of infrastructure options(On-Prem, Hybrid Cloud, Cloud Native, Cloud Agnostic). A strong business development professional and an entrepreneur at heart with a Master of Technology focused in Computer Science from Birla Institute of Technology.
An Investment Banker, Startup coach, Mentor, Strategic planner. Sector expertise Social, Agritech, Edutech, Healthcare, eGov Strategic Planner, M&A, Transaction Structuring, negotiations and valuation, An IIM-A Alumni with more than two decades of experience.