Empowering transparency and sustainability in Supply Chain through Symbol blockchain
Trackgood is a supply chain tracking and sustainability impact tracing tool that is trusted, low-cost, and easy-to-implement – thanks to Symbol blockchain.
Consumers are increasingly demanding of the brands they buy from, with 96% believing that recycling and buying ethically can make a difference. 88% of consumers want brands to help them to improve their social and environmental footprint.
However, 69% of businesses still have no visibility into their supply chains (BCI Supply Chain Resilience Report, 2017), with 95% of 5,300 home and family products struggling to substantiate their green or ethical claims. The problem is even more acute for smaller businesses, with just 6% having supply chain software installed.
Authenticity is key. The ability to substantiate and validate ethical sourcing claims throughout the supply chain is essential to the viability of all ethically-minded brands, with transparency across the supply chain helping to build consumer trust in what and who they buy from.
Trackgood wanted to help businesses of all sizes establish supply chain transparency and sustainability impact tracking in an affordable, easy-to-use way.
Trackgood created a track-and-trace tool that is focused on empowering sustainability by enabling brands to share their impact data and even link each step of their supply chain to the UN’s Sustainable Development Goals (SDGs) that they are working on.
This allows end-consumers to make more informed decisions about their purchase and consumption, safe in the knowledge that they are making a real difference and contributing to the world around them.
Trackgood is incredibly easy to use, with a simple set-up process and clear and simple pricing – all you need is a smartphone. The technology allows Trackgood customers (ie. brands) to showcase a series of supply chain steps with absolute integrity.
1. Trackgood allows device authorisation for scanning QR codes on products and geo fencing for additional security.
2. Each scan is then securely recorded on Symbol blockchain.
3. Sustainability metrics can then be presented in real time with tracked data.
This allows brands to easily build transparency into their supply chains and confidently showcase their sustainability credentials.
Trackgood was accepted as the first NEM Ignite Incubator Programme by NEM Ventures in April 2020.
The early prototype went live in Q3 2019 using NIS1 public chain and Trackgood will migrate across to Symbol at mainnet launch. Trackgood will officially launch in November 2020 with 3 pilot brands already committed to work with the tool.
Trackgood enables brands to build transparency in their supply chain with ease and share their impact with consumers with confidence. Authenticity and trust are backed by Symbol blockchain technology.