Blockchain technology, also often referred to a distributed ledger technology, has gained a lot of attention across industry over the past few years for a number of high-profile applications, ranging from tuna tracking and energy trading to food safety traceability. Many of these applications were fairly complex, lending to the perception that blockchain remains a technology reserved for use by the largest companies.
But a new application of blockchain through a partnership between Honeywell and iTrace Technologies Inc., a supplier of anti-counterfeiting technology using blockchain, could change that.
In this partnership. Honeywell is integrating the ability for its PX940v industrial printer to print labels with iTrace’s 2DMI real-time verifiable, authenticated, blockchain-registered track-and-trace features. iTrace notes that its blockchain application allows users to create a permanent record of every transaction, connecting the product securely to the blockchain, not just the packaging or label.
According to Kevin Dehoff, president of Honeywell’s Productivity Products business, this integration allows the printed label to be connected to the digital ledger, thereby creating a digital twin for online authentication. The digital copy of the item works as an extra layer of security for goods that require high precision and error-free printing.
“This simple to use and easy to deploy secure implementation of an anti-counterfeit technology used with our industrial printers will have a huge impact in the manufacturing and distribution industry where it has often been difficult to deploy these kinds of advanced track-and-trace and authentication solutions,” Dehoff said. “The use of blockchain offers businesses many opportunities to ensure supply chains of all complexities reduce fraud and increase trust with consumers and suppliers.”
Mark Manning, iTrace founder and CEO, added that, with this label, the entire supply chain journey of the product can be verified using the iTrace mobile app.