Consumers have lost confidence in supply chains due to the global spread of the Corona virus and are now demanding transparency. Continuous monitoring and recording of a product's condition, origin and quality is becoming increasingly important in the supply chain. Blockchain technology can ensure transparency for everyone to see.
Awareness of quality, environmental impact and fair trade conditions around the world is becoming increasingly important, especially in developed markets. The solution to the demand for verified quality throughout the supply chain is blockchain technology. It allows us to trace every step and the entire documentation of each individual product.
Gaining trust through try and error is an unnecessary risk. Until now, trust has been developed by testing suppliers or business partners and gaining experience. The risk here, however, is that business contacts do not fulfil expectations and great damage can be the result.
With smart contracts, there are no more breaches of trust. Either the contract is fulfilled or it is not.