Halotrade with Project Trado was delighted to be awarded the 2019 Business Green Technology Award for Supply Chain/Logistics Technology of the Year.
Recognition of our work through the BusinessGreen Techonology Awards helps us move forward, introducing the Halotrade solution to more buyers and suppliers as a viable way to improve supply chain transparency, and encourage sustainable and ethical practices from one end of the supply chain to the other.
The judges were looking for a new and innovative approach for enhancing supply chain performance, be it through more efficient logistics operations, optimised supply chain management, or more effective monitoring of suppliers. Halotrade with Project Trado scored high in all areas, successfully demonstrating how our technology tackles and resolves several supply chain challenges, which in turn delivers tangible improvements in sustainability.
Halotrade was designed to solve the problem of supply chain transparency, an issue for companies with complex, worldwide supply chains who are at risk of inadvertently supporting unethical practices in their supply chain.
The Halotrade Solution
Halotrade links the supply chain from end to end, creating a system where every player has a sound financial incentive to abide by international industry standards leading to sustainable production and consumption across the global supply system.
Halotrade tracks shipments from means of production to destination using blockchain technology, and this information is used to offer attractive financing to suppliers in return for sustainable and ethical business practices. At the same time buyers are able to verify standards and provenance in their own supply chain.
The Evidence of Success
Through 2018-2019 Halotrade was the focus of a successful year-long exploratory project to test the model, tracking tea as it was transported from Malawian farmers to UK-based buyers. Collaborators included start-ups Meridia and Provenance, as well as Unilever, Sainsbury’s, SAPPI, Barclays, BNP Paribas, Rabobank, Standard Chartered and IDH (The Sustainable Trade Initiative). At the project’s end, we were proud to report that our new model of blockchain and other data sharing technologies can enhance the sustainability of global supply chains without increasing production costs.