Product tracking
Tracking with blockchain technology
"Track & Trace" combines location data and information on the condition of goods within the supply chain. CryptoTec AG from Cologne combines its blockchain solutions with GSM-enabled sensors to monitor the transportation of products in real time.
This means that the customer receives a status report on the temperature, humidity and location of their ordered goods without delay. By integrating the data sent by the sensors into the blockchain, it cannot be subsequently manipulated. In addition, an automatic link with smart contracts is possible in order to easily verify compliance with contracts.
One important application is monitoring the temperature of stored or transported medical products such as blood reserves and organs. But CryptoTec's new technology can also record compliance with important limit values and contract points in real time for foodstuffs such as meat products, where an unbroken cold chain is of enormous importance, and prevent any subsequent manipulation.
Thanks to the real-time capability, it is possible to intervene before any damage occurs. With the proven CryptoTec blockchain, data is stored in such a way that it cannot be stolen in the event of a hacker attack. This is because information about the supply chain is a competitive advantage and is therefore confidential. The authenticity of the data can be verified later. The correctness and integrity of the data can be communicated to the outside world and confirmed by experts. Smart contracts can be used to automatically trigger further contractual agreements as soon as special events have occurred, such as the unloading of the delivery in a port and its loading onto refrigerated trucks.
Integrating the data into the blockchain is simple: the sensor is packaged together with the goods and transmits its data in encrypted form to the blockchain in real time via its telematic unit.
At the same time, CryptoTec's process solves the main problem of blockchain applications: scaling. The new system is high-performance and eliminates conflicts of interest for the operator. The Cologne-based company's technology is also characterized by the fact that it can be easily integrated into existing production processes and supply chains.
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