As a wise consumer, you should always thoroughly examine the details of a product or service before payment. So what if the product or service information is too ambiguous and intransparent for you to make the right decision? And how can you be certain that the information published by the company about the product or service is correct? Drinkizz understands your concerns about food safety, ethical and sustainable supply chain, data security, and environmental impact. Thats why, we digitalize organic natural energy supply chain and apply Blockchain technology to protect our transparent information. Let’s find out together with Drinkizz!
1. What is product information transparency?
Transparency entails involved parties to the end of result all having equal access to critical information. The data are not only open and transparent, but are also trustworthy, consistent, predictable, easily accessible, and plus, showing open-mindedness of the information providers, and the consensual of the shared parties.
Products with transparent information amend trust between supply chain stakeholders, which is essential for establishing a long-term relationship in the supply chain.
2. Why do customers need and understand product transparency?
Having a busy and digital lifestyle, Customers are becoming increasingly concerned about these problems:
- Food safety
- Ethical and sustainable value supply
- Environmental impact
- Data security
Unless these factors are fully informed, customers will not feel secure to consume, thereby leading to health and psychological stress.
According to the survey results, more than 94 % of consumers said they would stay loyal to a brand that provides complete transparency about the supply chain and has consensus from multiple stakeholders.
The more occupied consumers are, the more smart and quick decisions. They require high-quality products and services that can be clearly and quickly measured and verified. Consequently, the transparency of manufacturers and partners makes customers feel more secure about the service or product they use.
3. Why does Drinkizz digitalize for product transparency?
Drinkizz acknowledges shrewd consumers’ fears in a sophisticated and strenuous world. That is why Drinkizz has apply data digitization and Blockchain technology to make all data transparent in order to assist buyers in the proper way of consuming. It’s to strengthen the immune system and maintain positive energy for customer long-term health.
With each Qrcode on the can, The Organic Natural Energy drink becomes a smart product which can be easily scanned by a smartphone to retrieve all product-related data, like:
- Origin of organic ingredients
- Natural manufacturing process
- Product distribution channels
- Drink flavor, nutritional metrics for the body
- Waste management and recycling of Drinkizz
- Most importantly, it connects customers with the O.N.E community, where people live a healthy lifestyle.
This enables customers to make informed decisions about the amount and time to drink that is best for their bodies without being influenced by market external tensions.
4. Why did Drinkizz apply Blockchain for transparent traceability?
The food and beverage industry has a moral and legal obligation to provide consumers with healthy products. Drinkizz has applied blockchain technology from Vietnam Blockchain Corporate Company (VCB_Agridential.vn) to serve this consumer’ privilege, employing the concepts of decentralization and consensus to control operations in the highest manner of transparency and security, while allowing consumers to make wise decisions based on the principle of information transparency.
Blockchain is a digital ledger for storing and transmitting info that uses linked blocks that expand over time. Blockchain is built to withstand data changes. The information in the blockchain cannot be changed and can only be added when all nodes in the system consent. Even if a component within the system fails, other computers and nodes will continue to protect data.
Drinkizz (including all members of its supply chain) uses blockchain technology to provide consensus on the data used, which make it more consumable for sustainable, equitable goods and make it safer for consumers.
VBC modeled the traceability process using smart contracts, which are a special set of protocols capable of automatically implementing terms and agreements between parties. contracts (in this case, computer systems) using Blockchain technology.
The smart contract’s organisational structure is performed automatically with no need for exterior interference or through a third-party intermediary. Smart contract transactions are transparent, traceable, and cannot be tampered with or reversed. The terms of a smart contract are equivalent to those of a legal contract and are written in programming language. (1)
Drinkizz will be responsible for any information related to the manufacturing process that it commits (this means Drinkizz will provide consumers with the information in a transparent and responsible manner). Consumers can trace them if any problems arise in order to protect their interests (since all information will be stored on the blockchain).
5. Sustainable energy for sustainable development
Blockchain is based on the concept of consensus among stakeholders, which can sometimes incur significant energy costs.
Two popular blockchains (BTC and ETH) use chain reorganization (operators generate new blocks on the chain) which is a kind of random draw of hash keys to obtain those corresponding to the starting pattern, known as Proof of Work (PoW). BTC and ETH are in the Proof of Work version; this mechanism aids in transaction verification without the need for a third party. However, the PoW mechanism consumes too much power and limits the number of concurrent transactions. Thus, the proof-of-stake (PoS) consensus mechanism was created to address the shortcomings of PoW.
“The PoW part is the part that consumes this huge amount of electricity,” says Vitalik Buterin. Blockchain transactions do not require a lot of computational power. It is simply validating the digital signature.”
Between the two blockchains, bitcoin consumes significantly more energy than Ethereum (De Vries A (2018) Bitcoin’s growing energy problem Joule 2 (5): 801–805), and moving Ethereum to proof of stake (PoS), which reduce the energy consumed per Ethereum transaction by more than a hundred times. (2)
Drinkizz chose an Ethereum blockchain network approach to contribute to sustainable energy because it consumes less electrical energy than bitcoin. Although we use a PoW version of Ethereum, we believe that the new version will help reduce electricity costs. The Ethereum community is attempting to transition to a “proof of stake” (PoS) chain reorganization model, which would leverage the network with locked coins rather than the time-consuming “proof of work” (PoW) model. This summer, Bitcoin. Eth 2.0 will be released, which should address the issue of excessive power consumption.
By making transparency as the core value, we have faith that with our endeavours, Drinkizz will become a leading brand in organic natural energy drink y, owing to its unique and superior quality of products and the genuine virtues that we offer to the healthy community.
Source:
1) https://trustweb.vn/hop-dong-thong-minh-la-gi-smart-contract-cach-thuc-hoat-dong-va-ung-dung/
