A Unique Supply Chain Solution Has Been Implemented On Cardano. Could This Challenge VeChain?
The Cardano Foundation, an independent non-profit organization that oversees the advancement of the Cardano ecosystem, has announced the live release of a unique supply chain traceability and anti-counterfeit solution in conjunction with Scantrust, a connected goods and products platform that provides digitalization for brand protection, supply chain traceability, and consumer engagement to Fortune 500 companies and SMEs in over 168 countries.
According to the report, the supply chain solution provided by Cardano and Scantrust “allows brand owners to leverage the traceability and targeted data functions of Scantrust’s physical, secured QR codes; together with the speed and low cost of the Cardano blockchain for supply chain traceability and anti-counterfeit use cases.”
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The report added that the solution is now complete and successfully tested in a proof-of-concept implementation with Baia’s Wine, a Georgian artisan wine producer. Recall that the live implementation of this supply chain solution was first revealed in December 2020:
“The Cardano-Scantrust application will connect metadata on the Cardano blockchain to unique and traceable Scantrust QR codes on Baia’s wine bottles destined for international markets. This allows for detailed data visualization built from every touchpoint and interaction along Baia’s Wine supply chain journey.”
Could This Challenge VeChain’s Supremacy in the Supply Chain Ecosystem?
Many have seen this new development as a big challenge for VeChain, an obvious leader in the blockchain industry when it comes to providing supply chain solutions. VeChain has managed to work with Fortune 500 enterprises with its solution and also played an importation role in securing data as the world fight to mitigate the spread of Covid-19.
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As for Cardano, this is the first of its kind in the supply chain ecosystem. Cardano transactional metadata has never been deployed for commercial purposes.
The development of an authentication and verification solution, which allowed the use of the Cardano blockchain as a public audit platform made this possible.
So, the development will bring about the secure recording of supply chain data, validating product origin, and verifying enterprises involved in the supply chain, which is basically what VeChain does.
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Reacting to the new development, the CEO of the Cardano Foundation, Frederik Gregaard said:
“Empowering trust and transparency across all industries and digital agreements is at the heart of the Cardano Foundation’s missions. I am proud of our Integrations team, who have worked tirelessly with Scantrust to deliver the first solution of its kind to leverage metadata on the Cardano blockchain. Together with Scantrust, we are helping brands to reconnect with their consumers, increase transparency in their supply chain and fight counterfeit activity.”
Nathan Anderson, the CEO of Scantrust, also reacted to the collaboration as follows:
“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.
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“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—this makes it well suited for high-throughput supply chain tracking applications.”
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