VeChain

SOLUTION

Consumer Confidence Index Platform

For Manufacturers of Fast Moving Consumer Goods (FMCG)

The Consumer Confidence Index is a blockchain-based Digital Authentication Solution designed for retailers of products which are perishable or delicate in nature, such as food. The data collected by the platform will be verified by an independent third party, DNV and then uploaded to the VeChainThor Blockchain. After that, a confidence index can be calculated based on a mathematical model. With this solution, the participants in the ecosystem can work together, empower each other, and finally achieve a win-win result between consumers and enterprises.

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BUSINESS CHALLENGES

Industry Problems and Pain Points

Lack of Transparency

Information asymmetry remains a problem between enterprises and consumers, since enterprises can tamper with the data at their own will, thus increasing the cost of trust between consumers and enterprises.

Potential Food Safety Problems

Lacking effective monitoring, food safety hazards may be introduced into the food supply any time during harvesting, processing, transporting, preparing, storing and serving food.

Low-level Digitalization

Enterprise production and management rely entirely on manual and paper documents. Digitalization is an effective way for enterprises to improve management efficiency and reduce costs.

VECHAIN

Solution Overview

By leveraging blockchain technology, IoT equipment, and the enterprise's own business system, Consumer Confidence Index Platform can keep track of the entire lifecycle of the products, and manage the quality and safety information effectively.
Through this platform, we can facilitate the digital transformation of the enterprises. In addition, consumer feedback and big data will be utilized to improve the quality of the goods and services themselves, bridging the gap between legal authorities, product makers, and the end-user market.
The Confidence Index is calculated based on an industry standard set by DNV combined with consumer-generated feedback. Together, this data covers the entire lifecycle of the product, through source, production, logistics and consumption.

ADVANTAGES

Rebuild Trust

With blockchain technology, we can reduce tampering or interference at every stage of the supply chain, and build an open, transparent, reliable, and traceable system.

Ensure Food Safety

We can assist enterprises in achieving effective logistics management. For the food that needs to be transported within specific temperature and humidity ranges, data will be collected and uploaded to the blockchain through IoT devices.

Consumer Interaction

The user's purchase records and user experience will be stored on the blockchain.

Professional Evaluation Model

Designed and developed by DNV. With this model, we can provide valuable information for consumers to facilitate product quality assessment and purchase making.

Ecosystem Management

Based on the platform, we will build a blockchain-based future business ecosystem that is secure and trustworthy.

Theme	VeChain Solution	Traditional Food Industry

VeChain
SolutionTraditional Food Industry

SUCCESSFUL CASES

My Story™

Consumers are increasingly looking to the products they buy to confirm brands' promises and to ensure the brand is honest and responsible. Brands are struggling to communicate the efforts and investments made to build a sustainable high-quality product, and struggle to connect these actions to specific products. My Story™ is communicating the value behind certifications and labels, as well as creating engaging touchpoints between consumers and the brand. My Story™, an application developed and run by DNV on VeChainThor blockchain, helps brands bridge the trust gap between their efforts and consumers' concerns.

More Info and Demo

Contact a consultant to learn more about the solution and to discuss a demonstration.

Contact a Consultant