Singapore, 24 July 2018 –Boxgreen, a Singapore-based sustainable snack e-tailer has launched GreenHyperlink, a blockchain-based platform geared toward driving sustainable practices and digital eco-certifications. Put merely, it should allow the anybody to hint the origin of merchandise, confirm eco-certification information or labels, and empowers members of the ecosystem to offer suggestions on merchandise that they care deeply about whereas being rewarded on the similar time.
Set to be the primary social enterprise in Asia to make the most of blockchain know-how to drive sustainability and social change, GreenHyperlink seeks to combine customers, model house owners and certifying our bodies into one ecosystem. The GreenHyperlink Protocol can be constructed on Ethereum, with a local token, IMPACT — an ERC20 Ethereum token customary.
A New Way to Trace Products and Reward Sustainable Practices
With a plethora of environmental and social issues in the present day, a rising variety of customers are in search of out extra sustainable merchandise that decrease unfavorable impacts on individuals and the planet. In truth, sustainable enterprise alternatives in Asia alone are set to develop to a market measurement of greater than US$5 trillion by 2030.
As such, transparency in provide chains are not a alternative however a company accountability because the demand for fairtrade, in addition to ethically sourced and sustainable supplies proceed to develop. However, restricted shopper data relating to the provision chain of the merchandise that they devour results in a problem in making knowledgeable buying choices.
Introducing GreenHyperlink, a blockchain-enabled platform that gives transparency and belief all through the sustainable provide chain by which it addresses three major points with its personal distinctive options:
- Brand Authenticity and Transparency of Eco-Certifications
Issue: Proliferation of fragmented certification schemes and the dearth of transparency leads to manufacturers green-washing.
The GreenHyperlink Digital Certification Technology entails the mixing of blockchain between companies, customers and certifying our bodies. This permits particular information associated to sustainability reminiscent of product of origin, certification information to be uploaded and simply accessed by anybody within the public.
- Opaque provide chain and traceability of merchandise
Issue: Opaque Supply Chain have led to malpractices – environmental harm, exploitative practices, unsafe work circumstances and meals scandals within the business.
GreenHyperlink’s platform will assist facilitate end-to-end, strong traceability (from origin to point-of-sale) for companies and customers by partnering and integration with eco-certification our bodies and provide chain companions to accredit immutable certification with the proof of a digital signature by these our bodies for retailers.
- Lack of motion for shopper recognition within the sustainable area
Issue: Consumers don’t have any avenue to offer suggestions on the merchandise they love or assist manufacturers they honestly care about. Taking steps to be sustainable needs to be straightforward and easy.
GreenHyperlink will incentivize customers by means of the Social Ledger Program – An e-commerce loyalty platform that rewards customers who’re dedicated to sustainable efforts with IMPACT, and information their deeds on the blockchain.
Consumers will profit by with the ability to confirm the existence and integrity of eco-certifications by tracing the supply of the model’s merchandise for gratis. Users may also be rewarded for taking part within the ecosystem by way of a loyalty program by score and rallying the manufacturers they like or buying merchandise immediately by way of the platform.
Meanwhile, for manufacturers house owners and companies, they may acquire entry to a pool of loyal prospects who will not directly contribute to the enterprise and assist them be digitally licensed by the related our bodies beneath GreenHyperlink.
As a social enterprise, GreenHyperlink will look to incorporate Voluntary Welfare Organisations (VWOs) as a part of this challenge by giving a share of its gross sales to those organizations. For each buy on the e-commerce platform utilizing IMPACT, 0.5% of the tokens can be donated to charities. Tokens will be additional staked to entry premium options reminiscent of the flexibility to vote on charities to which the funds can be deployed.
“It is very clear that opaque and complex supply chain has become one of the biggest challenges businesses face driving sustainability today. Our experience at Boxgreen has shown us the importance of provenance and transparency in supply chain to build our business for the next decade. This is why we believe the time is right to build a digital, sustainable future of supply chains, with the introduction of blockchain and we’re very excited to share it with a network of brands in Asia. I am confident that GreenLink will impact the sustainability industry in ways never seen before,” says Mr. Walter Oh, CEO of GreenHyperlink.
GreenHyperlink is a blockchain-based protocol and ecosystem within the influence area that permits the anybody to hint the origin of sustainable merchandise, confirm eco-certification information and reward them for his or her dedication to sustainable efforts. To discover out extra about GreenHyperlink, proceed to greenlink.io.
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