ShelfNow Implements Blockchain to Increase Transparency in its B2B Marketplace
ShelfNow has revealed the implementation of blockchain technology in its core platform, making it the first functional B2B online marketplace powered by blockchain technology. ShelfNow has pointed out that the implementation of blockchain technology has led to enhanced transparency, responsibility and Irreproachable operations.
New Zealand headquartered tech firm Trackgood is aiding ShelfNow to integrate blockchain functionalities into its marketplace in order to improve transparency and moral standards for the company’s producers and customers. A QR code may be scanned with a smartphone to reveal the locations and identities of persons in the distribution chain.
Pictures and bios of everyone participating in the manufacturing process, as well as quality certifications, batch numbers, and travel documentation, are all readily accessible. The blockchain covenant’s operational feature is a crypto hash that verifies the validity of the authorized public data.
An attempt to encourage small and medium-sized businesses is being made by the corporation to help its producers incorporate blockchain technology into their business processes. In addition, consumers may use the data-driven marketplace to find manufacturers that meet their standards.
Caffè Barbera, one among the ShelfNow manufacturers, is using blockchain technology to enhance its market position. “Blockchain has empowered us to authenticate our distribution network and reveal with our clients the route of our coffee – from the farm to the cup,” said Elio Barbera, Managing Director of Caffè Barbera.
“This partnership with ShelfNow has been an excellent one for us since it has helped us modernize and make it easier for customers who share our moral values to identify and purchase the items we produce.”
Since last year, ShelfNow has seen a 230 percent increase in the amount of organic, fair-trade, and environmentally responsible companies on the site. Producers will be able to more reliably and transparently back up their ethical statements with data thanks to blockchain technology.
Philip Linardos, Co-founder and CEO of ShelfNow, stated: “With the rise of reputed brands, there has been an increase in desire from consumers to deal with moral and trustworthy suppliers. The incorporation of blockchain technology will enable us to take a leading role in allowing our buyers to identify manufacturers with similar thought process and see verification of ethical statements that brands claim. As a result, we are pleased to be introducing a solution to assist our producers use blockchain technology in their smaller firms — a complex process for SMEs without our expertise.”
John Hussey. Founder of Trackgood said: “Companies must demonstrate their customers what they’re on about to help economy and the environment, not just have an environmental policy. Most of 5,300 household items companies fail to back up their promises of ethical manufacturing, and 88 percent of customers want businesses to assist them better their social and environmental aspects. Trackgood enables firms to demonstrate their commitment to ethical and sustainable manufacturing by providing real-time supply chain visibility.”