What is blockchain traceability? Introduction to blockchain traceability

Blockchain traceability is a technical means that uses blockchain technology to track and record the source and circulation of goods or information. Here is a detailed introduction to it:

principle

• A blockchain consists of multiple blocks, each block containing specific transaction information. In traceability applications, each key link of the product or information is recorded as a transaction and packaged into a block. These blocks are connected in chronological order to form an unchangeable chain. The distributed ledger feature of blockchain enables data to be maintained and stored by multiple nodes, ensuring the authenticity and integrity of the data.

Features

• Immutable: Once the data is recorded on the blockchain, tampering requires controlling most nodes in the network, which is extremely costly and almost impossible to achieve, ensuring the authenticity and reliability of traceability information.

• Open and transparent: All data on the blockchain is open to everyone, and anyone can view the traceability information of the product, realizing the transparency of information and making it easier for consumers and regulators to supervise.

• Traceability: Through the chain structure of blockchain, every link between the product from the source of production to the hands of consumers can be clearly traced, accurately positioned problems, and improve the transparency and manageability of the supply chain.

Application scenarios

• Food traceability: Information from agricultural product planting and breeding to processing, transportation, sales and other links can be recorded on the blockchain. By scanning the product QR code, consumers can understand the 'past and present' of food and judge whether it is safe and reliable.

• Drug traceability: Trace the entire process of drug production, circulation, warehousing, sales and other links to prevent fake drugs from entering the market, ensure the quality and safety of drugs, and recall them quickly if problems arise.

• Luxury goods traceability: Record information on raw material procurement, production processes, sales channels and other information of luxury goods through blockchain, help consumers identify the authenticity, crack down on counterfeit and shoddy products, and maintain brand image and consumer rights.

• Supply chain finance traceability: Record transaction information of each participant in the supply chain on the blockchain, and financial institutions can use this to accurately evaluate the credit status of enterprises, provide financing support for small and medium-sized enterprises, and reduce financial risks.