The current blockchain industry is focused on protecting luxury goods. It has lost focus on protecting the daily goods we rely on to sustain and develop ourselves. This is where EndChain comes in, with our patent-pending code, we plan to re-align the focus of the blockchain industry to focus on all goods.
For our case study, we will use an item that is far too low priced for the other solutions in the market, food. Take a large cereal manufacturer for example. The per-item profit margin is extremely low, and using an NFC chip or manual entry to enter this into the blockchain would result in a loss per-item. Yet, a food manufacturer could use blockchain for a number of reasons such as:
Internal tracking
Securing tracking systems
Showing compliance with government regulations
Identifying logistic bottlenecks and optimize routes
At this stage in blockchain’s history, it is still impossible for any food manufacturer to access the benefits of blockchain. On the other hand, it is the right of consumers to know about the items they put in their body. The FDA was originally created to ensure that consumers would receive food that fits health requirements, and yet, the food industry is still plagued by scandals.
Let’s take a cereal company, called Cereal Producer A. Cereal Producer A would like to enable blockchain in its supply chain but is unable to due to current costs. Looking at their current options, Cereal Producer A would be unable to afford the per-item price, let alone installation and training costs.
With EndChain, the installation and training costs would be near zero. Our program will be able to run in the background of existing systems. As far as training goes, all employees will need to know is the scan the EndChain code on the box. It is as simple as that. The per-item price would be low due to the codes being printed directly on the boxes.
Although the cost is low, the benefits could be enormous. With a population that is more health conscious, people are looking for higher quality goods. With EndChain, any claims of higher quality could be proven by a simple scan of an EndChain code by a consumer. With over 100 brands of cereal at many major grocery stores, this advantage can persuade a consumer to choose the cereal made by Cereal Producer A.
Additionally, with a more secured tracking system, Cereal Producer A will be able to spend less on cyber security per year. The data given by the blockchain is not only secure, its transparent. Allowing Cereal Producer A to look at its logistics process, identify bottlenecks and optimize its current routes. With all these benefits combined, Cereal Producer A can enter into a new phase of production and achieve higher profits than ever before.