First blockchain-based supply chain platform | 10% for @tron-fan-club

The world of supply chain management has a great history in 2015. In this year, the first blockchain-based platform specifically designed to enhance transparency was launched named
VeChain. VeChain introduced a new approach to managing complex supply networks, leveraging blockchain technology to create a decentralized way to track and authenticate throughout products journey. VeChain's founding mission was to address the challenges that often plagued supply chains, such as counterfeiting, fraud etc. By harnessing blockchain's inherent properties of transparency, VeChain aimed to create a trustworthy system where every stakeholder along the supply chain could access reliable and real-time information.

source

The platform utilized a combination of technologies, including blockchain, radio-frequency identification (RFID), and the Internet of Things (IoT), to create a great and comprehensive solution. Each product or item within the supply chain was assigned a unique digital identity on the blockchain. And it was linked to a physical identifier like an RFID tag. This digital identity stored relevant data, such as origin, quality, location, and handling procedures. This way VeChain's blockchain-based solution allowed for the transparent tracking of products from their source to their destination.

Counterfeit products and fraud within supply chains were addressed through VeChain's unique identifiers and tamper-proof blockchain records. This not only protected consumers from fake products but also safeguarded brand reputation. By providing real-time data on the movement and conditions of products, VeChain reduced inefficiencies and delays in supply chains. VeChain's decentralized nature enabled secure data sharing and collaboration between various entities within a supply chain. It made it possible for the consumers to make informed choices about the products they purchase.