Raw material provenance refers to the documented history and origin of unprocessed natural resources or basic components used in manufacturing. This includes tracing where materials were extracted or produced, how they were processed, and their journey through the supply chain. Verifying provenance is crucial for ensuring ethical sourcing, sustainability, and quality control. It provides transparency regarding the initial stages of a product’s lifecycle.
Context
Blockchain technology offers a robust solution for enhancing raw material provenance, providing an immutable and verifiable record of a material’s journey from its source. In the digital asset space, this translates to creating tokenized representations of physical assets with their provenance data securely recorded on a distributed ledger. This application is gaining traction in industries like mining, agriculture, and luxury goods, addressing consumer demand for transparency and combating issues like illicit trade and unethical practices.
The integration of a distributed ledger creates an immutable digital twin for raw materials, mitigating supply chain risk and validating ESG compliance for premium sourcing.
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