There are numerous outbreaks of health hazards in relation to food products because of which consumers are troubled with rising fears in relation to supply chain management. The existing supply chain management systems are not able to address such concerns. This is mainly because they do not seem to provide for monitoring of pre-delivery stages along the supply chain. This is why even if there is a problem, it becomes difficult to figure out at which stage the problem occurred and also how to manage the problem. This is why consumers are demanding transparency in the supply chain process.
In order to help this problem, there is this new platform called Temco that has been introduced to us. For your convenience, we have reviewed the particular platform in details. If you wish to know more about the mentioned platform then you can go through this article once.
Temco is basically a public supply chain blockchain system that seeks to make use of Smart Contracts in order to overcome the limitations of the existing supply chain management system. In the existing system, the information of each distribution participant within the supply chain process may be segregated and cut off from the each other, but TEMCO aims to make it possible to connect each participant with the help of a blockchain so that the pre-delivery stages can be grasped in real time. The main aim is to establish consumer trust regarding the supply chain process. Not only that, but also to create a cost-cutting effect with the use of a more efficient supply chain management.
How does it work?
TEMCO is mainly a supply chain platform that is based on RSK blockchain. This particular platform is known to connect isolated supply chain systems and also to offer real-time data services with the help of consumer application and business intelligence tool.
In the existing systems, information is disconnected. As a result, consumers have a lot of questions and doubts regarding the quality of the product. The companies are also known to operate ineffectively. The main aim of the platform is to connect the supply chain systems and offer data services. With the help of the business intelligence tool provided by the platform, companies are able to gain new business insights. The platform also provides a consumer application in order to track real-time supply chain data and an online market with a cryptocurrency payment feature.
The platform is also known to make use of tokens known as the Temco tokens. TEMCO tokens and incentive points are rewarded to users when they participate in the community. To motivate users more TEMCO tokens and incentive points are given to monthly top reviewers, community-voted feedback writers, and highly rated businesses. They are allowed to spend these tokens in the TEMCO marketplace.
After going through the above mentioned details now you have a basic idea about the Temco platform. If you wish to know more then, you can go through the whitepaper of the project.