Supply chain provenance refers to the ability to trace the origin, history, and movement of a product or component throughout its entire supply chain. This process ensures transparency and verifiability of an item’s journey from raw material to end consumer. Leveraging technologies like blockchain can create an immutable record of each step, enhancing trust and accountability. It provides a verifiable audit trail for goods.
Context
Blockchain-powered supply chain provenance is a significant area of innovation frequently covered in business and crypto news. Companies are adopting distributed ledger technology to combat counterfeiting, verify ethical sourcing, and improve logistics efficiency. Developments in this sector demonstrate a practical, non-financial application of blockchain, addressing critical issues in global commerce.
The new Web3 module tokenizes customer loyalty assets, creating a first-party data channel and tradable digital utility to enhance long-term customer lifetime value.
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