Producers and merchants can strengthen trust, security and brand value for customers with the use of blockchain.
Worldwide, around 80% of extra virgin olive oil offered to consumers is fraudulent. Among premium wines, 20% are fake. The data is frightening. Even more so at a time when the consumption growth of these two products around the world is registered. Insecurity has increased for those who buy and is an important challenge for those who prioritize quality.
The market is currently experiencing a great challenge in relation to the products obtained from the planting of olives and grapes, among many others that reach people's tables. The increased demand reflects consumers' growing awareness of product quality. What is also at stake is trust in the brand and processes used by suppliers of products and services.
Regions such as Latin America and Asia are registering growth in demand for extra virgin olive oil. However, given the diversity of brands and the large amount of products of dubious origin, in addition to the growing demand for healthy products committed to sustainability.
Consumers tend to be suspicious of the quality of the oils available on the market that do not provide correct information, committed to their demands.
So, gaining trust and gaining credibility are required factors for suppliers to ensure differentiation to consumers.
Producers concerned with maintaining the quality of their products are now faced with essential questions about the future: “how can we prove that our olive oil is an extra-virgin?” and “how to gain trust from consumers and add more value to the brand?”. For these questions, the best technological answer is synthesized in blockchain resources, integrated with artificial intelligence, machine learning and business intelligence.
As much as possible, the supply chain circulates relevant information on all stages of the production process. From planting, bottling and marketing the products so that the consumer is in control and has security regarding the origin and quality of the oil. With blockchain, data is immutable and non-hackable, in addition to enabling end-to-end monitoring of the production chain.
The process of entering the blockchain
The producer logs in the Discovery Chain Platform, which is in the cloud, and enters the relevant process data such as:
planting and cultivation
Pressing, milling, beating and extraction
Manufacturing - final product
Data is entered manually, through other Big Data sources, external verification/inspection sources or even IoT (data capture and transmission source).
Checking what's in the glass
The customer and all the actors involved in the chain can scan the QR code on the product's packaging with their cell phone. Then you can find out the data on the origin and production process, ensuring that it is an extra virgin olive oil. In addition, the customer can also interact directly giving feedback to the producer.
Scan below to find out more:
The producer is now able to guarantee the origin
Now people have control of all information in the production chain
Ensures production and trading standards
Reduces risk and agile inspections
Increase consumer trust and loyalty
You have access to better product quality and information for origin
Nutritional information such as fats, carbohydrates, proteins, salt and vitamin E
Follow all the production process to farm to table
Reduces uncertainties beyond all possible products in the market
Recognizes value for your investment in a premium product