A solution to combat the trillions of dollars of counterfeit items traded worldwide is imminent and it is expected to change the game for New Zealand exporters.
Tech developers Sylo and TrackBack have announced a partnership which will deliver a world-leading e-commerce platform enabling products to be reliably traced from production through to the consumer’s front door.
The partnership will see TrackBack utilising Sylo’s communications and payments platform to drive real-time tracking technology. The platform will provide a user-friendly solution enabling consumers to pay for and then reliably follow exported products through the entire supply chain.
It is estimated that $1.2 trillion dollars of counterfeit products are traded globally every year.
For premium New Zealand exports such as wine, milk and honey, expectations and stakes are high, as are the costs of ensuring products are still what they say on the packet, when they reach dinner tables in countries such as China and the United States of America.
Sylo Co-Founder and Product Director, Ben Jordan (pictured) says the partnership will ensure New Zealand exporters can protect the single biggest asset they own; their international brand reputation.
“TrackBack’s blockchain-enabled tracking software, combined with Sylo’s world-leading secure data management and consumer interface platform, will allow New Zealand exporters to sell direct to consumers while guaranteeing product authenticity. This has never been possible before,” says Jordan.
“Not only will consumers be confident that they are purchasing genuine products, it also reduces the risk and cost associated with trading internationally, making markets such as China significantly more accessible for New Zealand businesses,” he adds.
“In addition to this initial use case, this tracking solution will have the potential to be rolled out globally for almost any use case or product type.”
TrackBack GM Product and Delivery, Eryn Lovell says the benefits of restoring faith in New Zealand made for both exporters and consumers is considerable.
“The quality of New Zealand made products is our largest selling-point and consumers pay a premium for that. Every time a product is copied or tampered with that reputation is put at risk,” says Lovell.
“A user-friendly, reliable and transparent way to unequivocally prove the provenance of exports reduces the risk for importers and consumers and will enable New Zealand made to once again be a trusted mark of quality.”
Sylo and TrackBack’s blockchain-enabled supply-chain management platform will be available in the first half of 2019.
