Traceability On Metadata
Blockchain based architecture can be efficiently used to keep product traceability. In this article we will explain how using token and transaction metadata can help to create a traceability system directly on the blockchain.
Wallet
A blockchain wallet is a digital wallet composed of public and private keys that allows one to manage cryptocurrency. Wallets have a receiving address and a unique identifier such as a staking address.
Tokens
Blockchain tokens are chunks of information stored on the blockchain to attest to file ownership. Blockchain tokens can represent a physical good using metadata (text information structure in a JSON like format) to store product property. The main advantage is that the product information will be always accessible immutable and the manufacturer can claim the ownership digitally.
Traceability based on self transaction metadata
Transaction metadata content can efficiently report a transfer made on a product by using a metadata bound. For traceability metadata will indicate the product and amount that is transferred (token id), the receiver (staking address) and the previous transaction id (tx). Then from the latest transaction and transaction by transaction go backward until the first transaction, verify all exchanges and make sure that the first wallet is the original product owner. This operation can be done efficiently automatically using a blockchain explorer.
Conclusion
This proposal can help to build a trustable decentralized traceability system without having to rely on databases or cryptocurrency exchange. Identifying a system based on a user’s wallet enforces transparency and auditability while using transaction metadata the most efficient way.
