It enables decentralized & trustless verification of supply chain history of a product. This is highly relevant in today’s complex supply chain that involves multiple stakeholders. Fraud activities can occur at any point in this supply network, necessitating a mechanism for users to confidently confirm the authenticity of the product they intend to purchase, ensuring it is not a counterfeit.

One of the spaces where it is really relevant is the fraudulent food industry. Consider items such as saffron, olive oil, honey, maple syrup etc which are often counterfeited and presented as genuine.

Manufacturers can use tracechain to document their production activities. For example, Apple Inc could record the creation of an iphone, accompanied with metadata such as warehouse details, date of production and product code.

Suppliers in the supply chain can employ tracechain to review the product’s history. This ensures that their orders are not tampered with & are secure.

End users can verify if they are buying the original product, not a counterfeit. For instance, a customer purchasing an iPhone from a retail store can securely authenticate the supply chain lineage of the phone.