In an important development that signifies the growing role of blockchain technology in the distribution and packaging company, Cardano Foundation has decided to collaborate with ScanTrust to provide proof-of-concept integration for the supply chain data project. This is going to open up new avenues of growth for both the organizations as successful implementation will demonstrate the utility of blockchain technology in strengthening the business prospects in the field of supply chain and distribution.
About Cardano Foundation
Cardano Foundation is one of the leading names in the blockchain space and based in Switzerland. Its founder Charles Hoskinson needs no introduction and his expertise in the crypto industry has been established a long time back. Hoskinson is an ex-founder of Ethereum and BitShares and according to his own words, the Cardano Foundation is working towards presenting a well-balanced system for the growth of cryptocurrencies around the globe. The blockchain network of the foundation goes by the name of Cardano and is considered as one of the leading blockchain service providers to a range of companies across the industries.
ScanTrust, on the other hand, is in the business of providing smart packaging and supply chain data to organizations in order to reduce the menace of counterfeit products. In other words, the company is working to enhance trust and transparency by eliminating the risk of fake products. By agreeing to integrate proof-of-concept blockchain-enabled solution with Cardano, ScanTrust is looking to strengthen its credentials in the field of providing trusted supply chain data to its clients across industries.
And in case you are wondering about what is a proof-of-concept, then it is quite easy to understand the term as a pilot project. In most of the technical projects, the feasibility is proved first (before going for full development and implementation) and that is done through the proof-of-concept. Through this process, the practical usability of the project is demonstrated and then only companies involved in the process proceed ahead with the full commercialization of the project.
The development is the right step in the right direction and if both the organizations, i.e., Cardano Foundation and ScanTrust successfully implement this proof of concept and find it good enough to go for full-scale commercialization, it would definitely help to widen the application area of blockchain further.