Through our use of Stellar, we are building a universal supply chain tracking tool that is fast, easy to use and will function in environments with low-Internet connectivity. Stellar was the best system upon which we could build to serve users in developing countries with limited electrical and Internet access, as well as a need for low costs and a simple tool.Website
Now more than ever the accurate historical origin of a product or document is more important than ever. The rise of global import tariffs has created a raft of regulatory compliance around a product’s point of origin and subsequently a range of deceptive schemes to get around these. From fake origin certificates and labelling to “transshipping” schemes where products are sent via 3rd party countries for origin relabeling there is now a multi-billion-dollar industry in such fraudulent schemes. Beyond tariffs we also see a rise in deception around environmentally sustainable or social good products being replaced with cheaper or inferior products sourced from locations with poor social or environmental records.
Other blockchain-based supply chain tools are too costly, or they use too much energy, or they are just too complicated for the workers who would need to enter data so they are not implemented widely. This is especially tool in fragile post-conflict states where war or other disaster has prevented users from obtaining a basic education, thus making it even more necessary that workers can have an easy to use tool to capture data. We have created an easy to use tool which is starting its second round of pilots with partners globally. Ayadee TRAK is a tool that had in mind coffee farmers in El Salvador who had limited educational opportunities making entries about their coffee that would go into the blockchain. The mobile entry tool only has four buttons on the screen, and whatever entry is made the GPS location and timestamp are added automatically when data is submitted.
Designed to be easy to use for consumers using standard QR codes. To see the history of a product that is on our system any consumer can simply point the camera of your phone at the QR code on its package, and then they’ll see photos, comments, and GPS locations and timestamps of entries connected to each specific batch of a product being tracked.
Finally, from a perspective of management controls, the company administrator can see the full supply chain, giving access to suppliers, processors and transport partners upstream to securely enter data about products with certainty that nobody in the supply chain could have edited this data once it was in the system. For further analysis, export this data into your traditional business intelligence systems. If there is an audit of your supply chains and procedures, you’ll have much more granular data than relying on traditional and disconnected supply chains of your various business partners.
See our link about on Galactic Talk about our upcoming projects!
Ayadee TRAK is the first supply chain tool to be built using the Stellar blockchain. TRAK enables consumers to see the full history of a product, from inputs used in its production, to processing, to transport, to retail.
The current tool uses is a web-based application and can be used on all platforms.
Ayadee TRAK uses the Stellar Blockchain to solve this problem by publishing a cryptographically secure public record hash of each TRAK product point entered by TRAK users on the mobile app. This secure publicly available record or signature on the Stellar blockchain is unalterable by anyone and can be used by customers and regulators to prove the validity of the data surrounding a products history. Clients are issued TRAK tokens, a Stellar-based token, and one token is used for each time data is submitted into the system. A hash of each entry about a supply chain is entered into the Stellar blockchain.
The open token architecture allows clients to be able to purchase unused TRAK utility tokens from other clients at their own agreed market rate without being dependent on Ayadee. This open and transparent architecture allows future development around the TRAK product system for both Ayadee and 3rd party developers in the future.
Among the additional pilots launching in the coming month are mango and coffee farms in El Salvador, a high-end women’s handbag producers in El Salvador, a women’s handbag producer in Ethiopia, a medical equipment provider in India, Olive oil in Tunisia (North Africa) and we are in talks with both US government agencies as well as one large European government about tracking textile supply chains, especially with a view towards preventing child labor. We are working to add new partners and a sampling of them can be found here: https://ayadee.io/partners.
The TRAK tokens themselves are a pure utility token used to publish each of the signatures directly to the Stellar blockchain 1:1. And while they will have a value they are NOT a store of value and the purchase price of these will be controlled by Ayadee to be always cheaply available for practical utility purposes. The client themselves has access to the Sending account so they can transfer these TRAK tokens to other accounts or sell unused TRAK tokens on the open Stellar markets however they do not have access to the receiving account which provides the record of the clients signature history.
How will we use these funds? We will use them scale beyond our pilots to reach out to new partners globally so that we can help more producers globally begin to track their supply chains, creating transparency that will bring spillover benefits to consumers ranging from greater certainty of the origin and quality of goods you buy to more detailed knowledge of your products than a simple label from a certifying agency could provide.
*The USD valuation of the award in XLM is calculated using the CF Stellar Lumens-Dollar Settlement Price on July 5th as administered, maintained, and reported by the cryptocurrency index provider CF Benchmarks Ltd. (using the ticker “XLMUSD_RR”) (available at https://www.cfbenchmarks.com/indices/XLMUSD_RR)
**The USD valuation of the award in XLM is calculated using the CF Stellar Lumens-Dollar Settlement Price on December 16, 2021 as administered, maintained, and reported by the cryptocurrency index provider CF Benchmarks Ltd. (using the ticker “XLMUSD_RR”) (available at https://www.cfbenchmarks.com/indices/XLMUSD_RR)
*The USD valuation of the award in XLM is calculated using the CF Stellar Lumens-Dollar Settlement Price on September 27, 2021 as administered, maintained, and reported by the cryptocurrency index provider CF Benchmarks Ltd. (using the ticker “XLMUSD_RR”) (available at https://www.cfbenchmarks.com/indices/XLMUSD_RR)
* The USD valuation of the award in XLM is calculated using the CF Stellar Lumens-Dollar Settlement Price on the date of transfer as administered, maintained, and reported by the cryptocurrency index provider CF Benchmarks Ltd. (using the ticker “XLMUSD_RR”) (available at https://www.cfbenchmarks.com/indices/XLMUSD_RR)