Lack of transparent supply chains poses a huge risk to business, compromising the health and morals of both people and the planet. And until now, centralised data systems have been the only way to power a traceability system for materials to ensure that data was trustworthy.
Provenance is a worldwide traceability protocol system that anyone can use to track the provenance of anything from coffee beans to a roll of fabric using the blockchain. It's a data system for securely storing information – inherently auditable, unchangeable and open.
The data can be linked to any physical product – through labelling, smart tags, QR codes and through embeds for websites or apps. Provenance currently works with over 200 brands across industries and continents e.g. tracking tuna fish through and fresh produce through the UK supply chains.
Blockchain technology can disrupt how the attributes and journey of every material thing can be tracked – powering a system everyone in the supply chain can be part of. Provenance has the potential to aid millions of people around the world to make more positive choices about what to buy – not only for end customers but customers all along supply chains.
The cumulative impact is hard to overstate: Provenance is building a future where every great product comes with accessible and verifiable information about its history and creation, using blockchain and open-source data to enable more transparent supply chains.