Blockchain logistics firm Endchain says that it will build a blockchain-powered tracking solution for Chinese maker of electrical equipment Ming Kee Factory.
The blockchain tracking solution will allow Ming Kee to better track consumer electronics. Ming Kee is a 40-year-old manufacturer based in the port and industrial hub of Ningbo, North-Eastern China.
“We believe there is a symbiotic relationship between EndChain and Ming Kee. It is also a proof of concept of EndChain’s product as well as a validation of EndChain’s idea. Ming Kee has chosen to partner with EndChain to help a thriving manufacturer turn into a blockchain-enabled factory. All while being affordable and non-intrusive to their current systems,” EndChain CEO Aaron Perkowitz said in a statement.
EndChain Blockchain Tracking System
EndChain is a patent-pending blockchain utility company whose patent-pending QR and barcode combination is designed to allow users to integrate secure blockchain tracking.
The EndChain QR code incorporates a barcode within the QR code, allowing for simplified use as users need to scan the only code found on the packaging. This compares to legacy barcode technology that requires users to scan the embedded barcode. Therefore, EndChains QR code offers a singular code to work on any type of system.
“An additional benefit is that the single code can update both the blockchain and any internal legacy systems with a single scan. The goal of this is to reduce complexity while increasing efficiency,” EndChain states on its website.
Blockchain Could Transform Supply Chain Management
Chicago-based freight broker and logistics service provider LoadDelivered believes that blockchain technology is game changer for the supply chain management.
“From conducting payment and audits to tracking inventory and assets, blockchain technology will enable greater supply chain efficiency than ever before,” the logistics firm said in a report published earlier this year.
Per the report, blockchain technology could affect the supply chain by improving the following tasks:
– Recording the quantity and transfer of assets (like pallets, trailers, containers, etc.) as they move between supply chain nodes (Talking Logistics);
– Tracking purchase orders, change orders, receipts, shipment notifications, or other trade-related documents;
– Assigning or verifying certifications or certain properties of physical products; for example determining if a food product is organic or fair trade;
– Linking physical goods to serial numbers, bar codes, digital tags like RFID, etc.
– Sharing information about manufacturing process, assembly, delivery, and maintenance of products with suppliers and vendors.
The advantages of blockchain to shippers include enhanced transparency, greater scalability, better security, and increased innovation, according to LoadDelivered.