[BLOG] Blockchain and NFC
Integrated Supply Chain Management System Through Blockchain and NFC Technology
There are many major and minor issues that happened due to complicated and unorganized supply chain management systems, and TEMCO is working to prevent such situations by improving existing systems through the development of a better system by utilizing blockchain technology.
The egg contamination incident in Europe and Asia
In 2017, the pesticide egg contamination swept across major parts of Europe. At the time, because of the complicated supply chain management system, it was difficult for anyone to find the source of the distribution problem.
After years have passed, the supply chain industry continuously has worked on improving from the past lessons. Unfortunately, due to lack of critical change and technical innovations in the supply chain management system, the problems related to the distribution of products in general, still occurs and overall distribution system is currently not at it’s best.
In the used motor vehicle market, the false advertisement persists and in the luxury goods market industry, there still are many counterfeit products that circulate around. In the following, it is still difficult for consumers to determine the authenticity of the used vehicles or luxury goods that they purchase. To recover the reliability and trust of the supply chain or the distribution system, the focus on improving supply chain management system is increasing.
NFC technology, rising as a solution
In such cases as above, it is difficult to determine the distribution records of the products nor transparently view the entire supply chain process. As the issues with the supply chain management increase, the NFC technology is rising as a solution for such problems.
If so, what is NFC and how can it change the supply chain management system? In the past articles, we have talked about RFID technology, and NFC is considered as a type of RFID technology. NFC is an acronym for Near Field Communication, and it needs specific radio signal to connect with the other device with the same frequency, and it provides more accuracy since it works only within the 10-centimeter range.
TEMCO’s NFC technology, revolutionizing the supply chain industry
TEMCO is changing the supply chain industry not only through the blockchain technology but also through utilizing advantages of the NFC.
Through the use of NFC technology, TEMCO can transparently and accurately manage product distribution records that are uploaded to the blockchain. If reliable product data recording and blockchain based system are developed, the entire distribution records about a product can be verified. For example, when NFC function on a smartphone is turned on and is placed next to the NFC tag that is attached to the product, the distribution records and the product information can be viewed all at once.
Such function increases the reliability of the product, and at the same time, it leads to more cost-effective operation of the companies. Through such, the supply chain management overall becomes more efficient.
The case scenario of the NFC adoption
TEMCO is currently developing an integrated blockchain based solution for the supply chain data management system. To facilitate the process, TEMCO formed partnerships with Art Together, 6gram and others. Through TEMCO’s solution, Art Together is able to increase its reliability of transactions transactions for the artworks, while 6gram is able to add transparency to the distribution records of the meat products for 6gram.
Surprisingly, TEMCO’s blockchain and NFC technology is also adaptable to the medical industry. Last year TEMCO formed partnerships with Balky, oriental medicine and medical information provider, for the use of TEMCO solution for uploading source of the oriental medicine to distribution process onto the blockchain.
Following the partnerships for application of TEMCO solution, TEMCO solution is being integrated into GUHADA platform as well. The luxury goods market is sensitive to the authenticity of its products, so the consumers and retailers in this market demand higher transparency of data. To meet the demand, GUHADA is employing vendor verification system to select reliable and trustworthy sellers for the platform. Afterward, TEMCO is applying the NFC technology for each individual product that verified sellers are presenting for record keeping of transparent product and distribution records on the blockchain.
TEMCO’s blockchain technology, in the real world
The solution that TEMCO is working on benefits everyone whether you are a luxury goods retailer, food distributor, the oriental medicine provider, Artworks crowdfunding platform, or a customer. All the transparent and accurate product and distribution information not only benefits the companies but all third parties that demand reliability of everyday consumer products. This is the technology that TEMCO is developing, to benefit everyone in their daily lives.
Consumers are able to experience such advanced services through the e-commerce platform for secondary luxury goods, GUHADA. Accordingly, if blockchain technology is commercialized through GUHADA, blockchain no longer exist only as a concept, but as an evolution for daily life. TEMCO is currently developing the first blockchain based e-commerce platform, GUHADA, and the extraneous development procedure of the platform will be conducted before its release.
TEMCO: Innovative Supply Chain Data and E-Commerce Solution through Blockchain and Smart Contract Technology.
▶TEMCO Chatroom: https://t.me/temcolabs
▶TEMCO Official Website: https://temco.io
