The Cardano Foundation has rolled out its first supply chain traceability and anti-counterfeit solution in partnership with connected goods and products platform Scantrust.
A press release by Cardano indicates that the solution enables brand owners to tap into Scantrust’s physical, secured QR codes for targeted data functionalities and traceability. The system offers speed and low-cost supply chain tracing powered by the Cardano blockchain while rooting out counterfeits.
Notably, the new solution is already in use as a proof-of-concept application with Baia’s Wine, a Georgian artisan wine producer.
Under the partnership, the Cardano-Scantrust application merges metadata from the Cardano blockchain with unique and traceable QR codes from Scantrust. Furthermore, before supplying to global markets, the solution embeds the information in Baia’s wine bottles. The application will enable wine buyers to access clear and relevant data about their drinks.
Commenting on the solution, Scantrust CEO Nathan Anderson explained how the partnership would restore confidence among brand owners.
“By leveraging Scantrust’s connected goods platform and a seamless integration with Cardano’s transactional metadata, brand owners can provide consumers with transparent, easy access to the complete origin story of the product in their hands and enhance confidence in what they are buying. A key added benefit from an operational scalability perspective is that Cardano Foundation’s metadata connector enables the use of the highly decentralized Cardano blockchain without high fees,” said Anderson.
Cardano’s transactional metadata attains commercial use
The application marks the first time Cardano’s transactional metadata is used for commercial purposes. Before attaining milestones, Cardano first set up an authentication and verification solution deploying its blockchain in public data auditing.
The platform securely recorded supply chain data, validated product origin, and verified businesses in the supply chain.
For years, the global counterfeit goods market has been rising. The Chamber of Commerce projects it will hit $4.2 trillion by 2022.