B2B online marketplace ShelfNow on Monday (April 25) launched blockchain integration across its intelligent platform, in partnership with New Zealand software company Trackgood, to create what the company says is the world’s first blockchain-enabled marketplace.
According to a Business Leader report, the integration of blockchain promotes transparency, sustainability, accountability and ethical operations, as buyers can see those involved in the supply chain by scanning a QR code on their smartphones. Available documents include counterfeit-proof images of the production process, profiles of those involved, quality certificates, lot numbers and travel documents.
“As consumers are becoming more aware and interested in ethical brands, there is a greater demand from buyers to work with transparent and ethical producers,” Philip Linardos, co-founder and CEO of ShelfNow, said in the report. “The integration of blockchain technology will allow us to lead the way in enabling our buyers to discover like-minded producers and see proof of ethical claims that brands make.
“Furthermore, we are excited to be launching a program to support our producers to introduce blockchain technology into their small businesses — something that would be difficult for SMEs without our support.”
ShelfNow is launching a program to help producers implement blockchain into their operations as part of its continued efforts to support small- and medium-sized enterprises (SMEs). Buyers, meanwhile, can also utilize the marketplace data to tailor their searches for producers.
“It is not good enough for brands to have sustainability strategies alone as they increasingly need to be showing consumers what they are doing for society and the environment,” said John Hussey, founder of Trackgood.
Hussey said 95% of 5,300 home and family products “struggle to substantiate their ethical production claims and 88% of consumers want brands to help them improve their social and environmental footprint.”
In January, cryptocurrency marketplace and ecosystem startup Kryptonect announced its plans to launch the “Amazon of the blockchain,” with a marketplace that lets consumers purchase “tangible products” anonymously on the Binance Smart Chain.
Related: Kryptonect Plans ‘Amazon of the Blockchain’
London-based Kryptonect said its chief components are an eCommerce marketplace and a freelance marketplace that unearths the “most advantageous components of blockchain” with the rise of eCommerce.
We’re always on the lookout for opportunities to partner with innovators and disruptors.
Learn More