- TrackingID will use crypto smart card
- It will publish product information on IOTA’s blockchain
- The solution will help guarantee product integrity
Things Lab recently unveiled a revolutionary blockchain-based solution for the identification and anti-counterfeiting of objects. The Things TrackingID is the latest solution for supply chain tracking and ownership management.
According to a video demo placed on YouTube by Things Lab, the IOTA-based crypto smart card is a product tracking solution that can be integrated into virtually any existing supply chain. The Tracking ID will use the cryptographic smart card that publishes on the IOTA blockchain and will be attached to products and batches before they are transported to consumers.
Fill In All Parameters Regarding a Product
According to the video demo, product manufacturers can read the card using any NFC reader such as a smartphone to log in to its personalized manufacturer’s webpage where they will fill in all the parameters regarding the product which will get published on IOTA’s blockchain and stored there.
All the different steps from the farmer to the consumer will be updated and can be accessed by all authorized parties and the consumer can also access and verify it using their smartphone.
The Smart Card will be inserted in individual products in the case of valuable products such as wine, luxury bags and certain pharmaceutical products and in product batches for lower value products. The system will track goods even in the remotest areas such as the high seas and display information regarding the shipment sensors.
The resultant effect will be improved food security as everyone involved in the supply chain will have access to farmers and transporters while the pharmaceutical supply chain can also be tracked so that only approved drugs arrive at pharmacies and hospitals guaranteeing also that none of the dangerous drugs escapes from the supply chain.
Consumers Demand Transparency
As BR reported recently, IOTA use cases in the supply chain industry continue to increase with every new form of collaboration with industry players.
IOTA announced a collaboration with EVERTHNG specifically to make product supply chains transparent in order to meet the surging demands for sustainability from people and planet alike. Supply chains are complicated and they lack transparency between the stakeholders. In an age where consumers demand transparency, its only projects such as IOTA’s tangle that can address this serious need.
The collaboration between Things Lab and IOTA uses the combination of Distributed Ledger Technology (DLT) and the Internet of Things to make the supply chain more productive and effective.
By associating every product with a crypto smart card that becomes the authentic identifier, everyone involved will collect essential information about a product and publish in in IOTA’s Tangle. This will ensure that at every step of the supply chain users can have direct access to the product’s original data and history besides tracking the product’s location and status in real time to guarantee its integrity.