It seems like companies are now learning how to unmask the powers of the blockchain and apply it to their brand. Several businesses are now utilizing the technology to demonstrate the reputable and legal acquisition of their supplies.
As a customer, we do not only purchase goods and services. We also expect companies to hold on to their brand promise and value recommendation, no matter what it is. Holding on to a brand promise makes companies invite customers to their brand, grow brand loyalty, and keep their customer base.
The experience that consumers have with the different products and services rendered by various companies taught them to be wiser. They pay more attention to what the labels say and become more concerned regarding the sources of its supplies.
Blockchain can help companies a lot to maintain their brand promise in terms of ethics and the legitimacy of supply sources.
Consumers prefer single origin products. These are products that have been manufactured with only one recognized geographical source. Since the products came from only one source, they possess higher quality. Besides, consumers are able to easily determine if the products are decent or disreputable. This could also increase jobs, guarantee substantiality, and develop communities.
Blockchain tracks single-origin products. It needs a lot of transparency when it comes to the recommendation of a single-origin product. As a matter of fact, it is one of the fundamental elements of blockchain technology.
One example is the Provenance platform that utilizes both open data and blockchain to acquire information for the authorization and sharing of the company’s legitimacy. Its objective is to use the purchasing power to establish a real global transformation. It provides services to partners, companies, and consumers.
Consumers get to know more about the products they buy. Companies, on the other hand, have the chance to communicate their story and inform consumers about the brand products they are trying to sell. As for the partners, the platform provides them the opportunity to promote the practice they have been implementing by working with Provenance.
OriginTrail is another company that makes use of blockchain technology to present single-origin product information. It analyzes supply chain data through the lens of centralization, fragmentation, and protection of data.
Tracing single-origin coffee with blockchain. Consumers prefer coffee beans from just a single location and harvested in a particular way. People would no longer procure the generic store brand. Blockchain offers additional transparency for customers to know where they are buying their coffee beans since the term ‘single-origin’ could mean anything like a specific place, a specific plant on specific farmland in a specific region.
Onda Origins utilizes the blockchain ledger to monitor and record their farmers’ coffee from the time the coffee beans are established to the point of sale. The coffee company partner in Microsoft’s coffee program uses ledger that provides data such as the farmer’s name, specific origin, procedure, variety, tasting notes, farmer data, and powering.
The company aims to close the discrepancy in the coffee industry because the cost of a cup of coffee already went 500% since the 1980s but the farmers are being paid with the same wage as three decades ago.
Guaranteeing ‘cleaner’ commodities. Majority of beauty products use chemicals as its main ingredients. Health awareness is now the no.1 priority of beauty product users. It is more important for them to know what are they putting in and on their skins. Blockchain helps consumers in a way they will determine what kind of products they are using.
TE-FOOD is the world’s biggest farm-to-table food traceability system that embodies a special blend of blockchain and supply chain operation that allows the monitoring of products used in food and other industries. While it makes sure that the data is transparent, the platform also utilizes information such as detailing the price and product identification used.
Quicker handling period. JOLYY combined blockchain and peer-to-peer (P2P) technology to establish faster and more secure payments. The platform makes sure that consumers of beauty products need not have to worry that their credit card information will be hacked or have to wait long on the website.