Blockchain-based startup Tracified has won an international tender by the Asian Development Bank (ADB) to implement food traceability in Azerbaijan. Titled ‘Digital Development Facility for Asia and the Pacific – Food Traceability System in Azerbaijan’, the project may get extended to neighbouring countries in the future based on the success of this pilot.
“Winning the ADB tender has been the pinnacle of an exciting couple of months for Tracified. As a Lankan player in a space with diverse possibilities and frequent developments globally, we look forward to exploring the boundaries of the Tracified platform through this project and creating a lasting impact on Azerbaijan’s agri-food sector,” stated Tracified Co-Founder Dileepa Jayatillake.
The Government of Azerbaijan plans to adopt food safety laws and regulations but as Azerbaijan’s agri-food sector is highly fragmented consisting mostly micro, small, and medium food business operators, the introduction of food traceability in the country is a challenge. To solve this problem, the Asian Development Bank plans to implement a food traceability system targeting products based on food, feed, food producing animals and food adding substances. The project will test the feasibility of applying modern technologies such as blockchain in developing food safety and traceability systems.
The project will be managed by the Azerbaijan Food Safety Agency (AFSA), while Tracified will implement and configure the tracing system connected with public blockchain,create a physical tagging solution for efficient batch tracking, conduct trainings with the help of local consultants and advise on scaling the system.
A company incubated within StartupX Foundry, the startup accelerator of 99x, Tracified is a blockchain-based traceability platform that connects the entire supply chain. The solution can be applied to scenarios where it’s crucial to assure the integrity of the supply chain. From organic produce to high-end consumables, Tracified can identify and record change of custody, geographic journey, cold chain, certifications, processes, sustainability measures, community involvement and any physical parameter across every stage, using a multitude of tracking technologies.
Tracified recently announced that it has received equity investment from venture capital firm, 360ip Japan (360ip), where it took a 20% stake in the company. Additionally, the startup’s cutting-edge Blockchain-based traceability platform was selected by the United Nations Industrial Development Organization (UNIDO) to spearhead the creation of a digital traceability platform for Sri Lankan cinnamon farmers’ crops and value-added products to be used in international trade.
The platform has also been recognized at both national and international forums. In 2018, it won the Founder Institute Scholarship for the Best Sustainability Startup Pitch at the Oslo Innovation Week. Further, the product was recognized at the 2017 e-Swabhimani Digital Social Impact Awards, where it emerged winner of the Business/Commerce category and at the National Best Quality ICT Awards (NBQSA), where it won Gold in the e-Logistics and Supply Chain Management Category.
Tracified is a Blockchain-based platform that can be applied to both e-commerce and brick and mortar establishments. It has been built with the vision of enabling authentic sellers to prove the quality of their produce to the intended market. It can be used by any participant in a supply chain to share information with other participants including end-consumers, in a credible way via public blockchain. Tracified is a company incubated within the innovation center/accelerator StartupX Foundry.
Post Views: 3