In the ever-evolving landscape of sustainable business practices, transparency has become the cornerstone of trust between consumers, brands, and manufacturers. To ensure this transparency, a system of certification was introduced, often utilizing Transaction Certificates (TCs). While TCs have played a crucial role in verifying sustainability claims, a new, more secure method has emerged - the Crypto Transaction Certificate (Crypto TC™).
Transaction Certificates, or TCs, were introduced to address a fundamental challenge in the supply chain - Mass Balance. In Mass Balance systems, the aim is to ensure that the quantity of sustainable materials entering a production process matches the quantity of these materials used in the finished products. This system was developed to simplify the certification process, allowing manufacturers to blend sustainable and non-sustainable materials during production while ensuring the final product met sustainability standards.
However, the implementation of traditional TCs is far from straightforward. Manufacturers are required to identify the source of their feedstock, detailing where it was obtained. Additionally, they must upload invoices as proof, which can, in some cases, be fabricated. Audits are often limited in their effectiveness and traditional TCs essentially capture only the starting point of a product's sustainability journey, primarily focusing on the first batch of materials.
The Crypto TC™ represents a groundbreaking shift in the world of traceability and certification. It introduces instant verification without the need for additional costs or long delays. Much like traditional TCs, Crypto TC™s record the journey of sustainable materials through the supply chain. However, they do so in a highly secure and tamper-proof manner.
Crypto TC™s offer instant verification, eliminating the need for time-consuming audits and reducing administrative overhead. The process remains nearly identical to that of traditional TCs, making it a seamless transition for manufacturers.
Unlike traditional TCs, which often require third-party verification, Crypto TC™s function on a secure blockchain platform. This eliminates the need for intermediaries, reducing costs and enhancing trust in the system.
Crypto TC™s provide an additional layer of transparency. Each certificate includes essential information such as a Purchase Order (PO) number and a note for the next party in the supply chain. These details are accessible via a QR code, allowing stakeholders to view the same document online.
Stakeholders, including brands and parties involved in specific steps of the supply chain, can access Crypto TC™s. This shared visibility fosters trust and collaboration among all participants.
While traditional TCs often rely on scope certificates, Crypto TC™s ensure compliance through Know Your Customer (KYC) processes within the platform.
In a world where greenwashing and inaccurate sustainability claims abound, the Crypto TC™ emerges as a beacon of trust and transparency. It addresses the shortcomings of traditional TCs by providing a secure, instantaneous, and tamper-proof solution that enhances sustainability verification for all stakeholders.