Token Analysis: Greenlink Review
A comprehensive review and analysis on Greenlink, which is set to elevate social responsibility standards.
Overview
GreenLink is a decentralised trust protocol that elevates social responsibility standards. Powered by blockchain, GreenLink is the world’s first protocol that revolves around one concept — sustainability.
GreenLink represents the digitization of certifications and information about products and businesses in the sustainability space. Token holders can use IMPACT tokens in exchange for physical goods and services online and offline, access brand stories along with tracing the origin of sustainable products, and be rewarded with tokens by taking part in the ecosystem via their Social Ledger loyalty program.
Issues Solved by Greenlink
Conscious Consumerism is a rising trend and consumers are becoming more socially and environmentally conscious but with greenwashing going around, how reliable is the data we receive? Greenlink is here to address these few issues:
1. Certification authenticity: The general problem is that existing certification schemes in the framework of globalized production and consumption are based on a fragmented centralized system where complex and opaque supply chains often hide relevant information while reducing levels of external control.
2. Supply chain reliability — food safety/origins: Current methods of using a centralized supply chain monitoring system do not provide consumers with relevant data on the manufacturing conditions of the products.
3. Lack of action for green movements — incentivizing customers, the right thing is the profitable thing: Although consumers clearly are becoming more socially and environmentally conscious, sustainable behavior is not adequately captured and only short-term incentives are awarded to consumers. Furthermore, even if these actions and behaviors are monitored, they are done so with a centralized system — maintained and accessible only by the respective businesses.
Protocols
By leveraging on the blockchain, GreenLink seeks to provide transparency throughout the supply chain by forming a backbone on which applications can be layered on, for example via proof-of-certificate application, which allows consumers to partake in a new form of product verification process and enable businesses to be digitally certified on their platform.
- Proof of Existence (PoE) To enter a new world of accountability, attribution and auditability, businesses are able to upload their product information and certificates onto the blockchain to create immutable records of existence, integrity and ownership for the certificates.
2. Digital Signature GreenLink will enable digital certifications to be issued using the digital signatures identity structure. Certification bodies can cryptographically sign for the various specified conditions that a business must meet in order to be approved.
3. Proof of Authorship GreenLink will create a blockchain-based platform which simplifies the process for publishing, distribution, revocation and authentication of digital certificates.
4. Certification bodies They have a single, trusted and consistent view of hundreds of certifications issued to businesses. An electronic document containing the digital signature of a certificate-issuing authority uses its private key, whereas its public key is tied to the organisation’s identity. Thus, this allows anyone to conduct a check with absolute certainty that a certificate was indeed issued by the stated certificate-issuing authority by using that organisation’s public key to verify the digital signature.
5. Open-source Global Certificate Verification GreenLink will provide an open API and Web-based plugins for businesses to integrate with their existing platforms such as Wordpress CMS and Shopify Stores. On a brand’s website, consumers will then be able to view detailed information for the certificates which correlates directly to their blockchain data (e.g. country, certificate issue date). Additionally, they can scan the QR code of a product which directs them to the exact blockchain transaction that took place at the time the certificate was uploaded.
Roadmap & Plans Ahead
Here is Greenlink’s roadmap
Greenlink has a well thought out roadmap which details the specificities of the project development. The Greenlink 1.0 Digital Certification Platform is set to roll out by Q2 of 2019 piloting with selected brands and partners. By onboarding more partners upstream, supply chain participants are able to rate their suppliers which eventually improves their business reputation.
Summary
Greenlink is a conscious consumerism project that not only aims to encourage sustainability but also helps consumers to avoid greenwashing as well as incentivising consumers with tokens by taking part in the ecosystem via their Social Ledger loyalty program.
Follow Greenlink on:
Telegram: https://t.me/GreenLinkIMPACT
Twitter: https://twitter.com/Greenlink_io
Facebook: https://www.facebook.com/walter.greenlink.3
Instagram: https://www.instagram.com/greenlink.io/
Medium: https://medium.com/greenlink
