Following an earlier move by the China giant, Alibaba, to secure food traceability with blockchain technology through PwC, a subsidiary of the company’s group, Tmall Global, has entered into the trial operation stage of blockchain to ensure complete tracing of imported goods for end-to-end delivery.
According to an update issued by a Chinese website, Alibaba’s Tmall Global will be using the solution tagged ‘Visa’ to provide answer to questions like production date, the origin of foreign goods, production place, amongst others.
B2C online trader Tmall, a company which accounts for over 50% of the Chinese e-commerce market share, would be using other technologies like dynamic image recognition and dynamic laser to ensure optimum traceability and monitoring of delivery on every step of the process.
The Visa feature is a source code that is to be attached to every products bought. Before the shipment of the goods, purchase information like date, location and personnel amongst others would be inputed into the Visa.
Arriving at China’s border, buyers of the good would be handed all data about the product by scanning the QR code with a smart phone.
Why Is Vechain (VET) Best For The Chinese Company
To begin, Vechain (VET) offers almost the same supply chain traceability solution in a better way.
Leveraging NFC chip, RFID tag or QR code, Vechain makes it possible for producers to assign unique ID to products and store them on blockchain technology. Aside this, Vechain (VET) offers services like protection, anti-counterfeit, and food safety. Thus a compound and complete solution for any company in the supply chain industry.
While Visa is detachable, the QR codes created by Tmall can be eliminated, and once removed, and the product would likely not be traceable anymore as data on the codes would be erased.
Also, the latest technology co-developed by Vechain (VET) and DNV-GL, MyStory, has bagged series of accolade and recognition. It is seen as a very much effective solution for situations like this, especially after it was officially adopted by three top wine makers in Italy and when it went live on the most watched television station in the country.
Vechain’s MySTory helps tell the true and full story of product from source to the end point without any hassle.
Lastly, Vechain (VET) blockchain technology has also been tested and approved by two top companies in China, ENN Energy Holdings Limited and Shanghai Gas (Group) Co. Ltd. While tracking and sharing gas data with blockchain technology, all information about gas from origin to distribution would be easily made available.
To cap it all, Vechain (VET) blockchain technology is a renowned solution in the supply chain industry and this is exactly what Tmall needs.
