- The collaboration between these two companies is geared towards “making product supply chains transparent.”
- Consumers are constantly demanding more transparency especially in areas of food and fashion.
- Data stored on DLTs allows customers to have access using a dedicated app or even via a web interface.
The latest development news in the IOTA community is the partnership with EVERYTHING. The collaboration between these two companies is geared towards “making product supply chains transparent in order to meet the urging demands for sustainability from people and planet alike.”
IOTA has realized that the complex systems of supply chains hinder transparency. Which makes transparency among the stakeholders an uphill task while individual exposure to the same a near impossibility. However, consumers are constantly demanding more transparency especially in areas of food and fashion. The availability of data can allow consumers to determine the authenticity as well as the sustainability of the products they intend to buy.
To achieve this, companies can leverage public distributed ledgers (DLTs) that can allow manufacturers to expose supply chain data to the consumers. Data stored on DLTs allows customers to have access using a dedicated app or even via a web interface that does not need login nor sharing personal data. According to a blog post published by IOTA on April 17:
“EVRYTHNG’s mission is to give unique digital identities to a range of consumer goods. Using this identity, an object (like a handbag or a bottle of whiskey) can be followed along its production chain, while collecting data about its manufacturing process.”
At the same time IOTA:
“Is committed to providing data integrity by allowing data to be stored on a distributed ledger which is easy to access and available to everybody. IOTA’s distributed ledger, the Tangle, is ideal for these micro-transactions given its feeless and permissionless nature.”
The collaboration between IOTA and EVERYTHING will enable consumers to have access to product data “with embedded authenticity and integrity.”
The CTO of EVERYTHING Dominique Guinard says that:
“What makes a significant step forward here is the simplicity of integration and the natural fit that MAM channels provide to the concept of capturing, sharing and validating supply chain events.”
“The different events in the life-cycle of a product that need to be sent to a DLT can easily be linked in the same MAM channel, without any extra work.”
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