Blockchain constantly makes the headlines currently, but behind the hype and misunderstandings lies a powerful capability with unparalleled features that would benefit many organisations.
The Data Gym is an enthusiastic evangelist for how Blockchain technology can be leveraged to drive greater transparency, visibility and verified integrity for diverse organisations including, for example: FinServ, Retail, Education, Construction and Healthcare.
It is for these reasons that we have been working with Criterium Solutions for a while now, integrating their expertise with an organisation’s broader data considerations, hence ensuring maximum benefit from data strategy to data delivery.
Why Criterium Solutions?
In 2018/19, Criterium led ground-breaking work in the US meat industry to architect a complete ‘farm to fork’ supply chain solution on Blockchain. This clearly showed that usage of Blockchain (from production) to record a tamperproof digital record for each meat product, enabled communication across the value chain of verifiable evidence of a company’s brand values and sustainable/ethical trading practices.
Not only is Consumer confidence served by transparency and the veracity of data, there are additional significant commercial and operational benefits such as:
- Product tracking and traceability throughout the supply chain, made available via real-time dashboards, analytics and reporting
- Communication of provenance to consumers via QR or NFC codes, coupled with enhanced brand storytelling
- Full product and batch traceability back to the factory minimizing product recall costs
- Verifiable product Audit Trail from factory to retail for internal compliance processes
- Reduction in the cost of audit and compliance regimes over time as product authenticity has been captured from the start of the supply chain, obviating the need for further cross-checking audits