This article was first published on Centrality - Medium
TrackBack collaborates with AsureQuality, NZ Post and The True Honey Co. to verify provenance, prestige and quality of New Zealand-made products
TrackBack has successfully tracked genuine mānuka honey from its origin in New Zealand to its destination in Shanghai, China using blockchain technology. All events along the supply chain, as well as evidence of the company’s testing protocol to verify grade were recorded to the blockchain.
The successful proof of application was the outcome of a collaboration between TrackBack, AsureQuality and NZ Post using mānuka honey from The True Honey Co.
TrackBack provides complete traceability to ensure global confidence in product authenticity, integrity and provenance. This means the recipients in China were able to verify that the jars of honey they received were the same jars that had been packaged in New Zealand.
Increasing value creates increased risk of counterfeiting
New Zealand has a strong history of producing high quality exports, especially in the food and ingredients markets. This very success makes locally produced products an attractive target for low cost imitations. These imitations have the potential to undermine the premium assigned to New Zealand-made goods in the global marketplace. The Grocery Manufacturers Association in the United States estimates that the counterfeiting of global food and consumer products costs the industry US$10–15 billion per year.
Counterfeit concerns are not confined to the food industry. According to the Global Brand Counterfeiting Report 2018, the amount of total counterfeiting globally reached US$1.2 Trillion in 2017 and is bound to reach 1.82 Trillion USD by the year 2020.
Semanie Cato, TrackBack Head of Business Development, says TrackBack enables any business to build a traceability solution quickly and easily to safeguard the value of its unique product offering, giving confidence to customers and building trust with consumers.
“Building a trusted food framework in New ...
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Centrality - Medium