Thinfilm launches CNECT Blockchain Services

Built into Thinfilm's CNECT Cloud Platform and powered by the Ethereum blockchain app platform, the offering allows manufacturers, brands and distributors to strengthen supply chains while enhancing NFC mobile marketing engagement with product traceability and transparency information – all through the tap of a smartphone. CNECT Blockchain Services link each product tagged with a Thinfilm NFC SpeedTap tag to a specific, permanent and unalterable digital history that can be validated by consumers. In this way, brands can increase consumer trust by providing a transparent, easy-to-access account of a product's history, from farm to fork or from production to e-commerce delivery. Consumers interacting with blockchain-enabled NFC smart products and packages can also access dynamic, cloud-driven digital marketing experiences in addition to seeing a full and transparent account of a product's life cycle, including provenance, transport and recycling information, as well as item authentication.

Enterprises can procure unique SpeedTap tags and leverage Thinfilm Blockchain Services to add transparency to their supply chains. The blockchain mobile app – integrated with the CNECT platform – allows enterprise users to verify the history of NFC-tagged items and transfer ownership to others within a supply chain, including manufacturers, distributors and retailers. Whenever a transaction is made, it is permanently and unalterably recorded in the blockchain to enable future access. It also allows end-consumers to participate in downstream transactions.

By combining the inherent security and ease-of-use of NFC technology, Thinfilm identified how CNECT Blockchain Services streamline the integration of blockchain's advantages into both supply chain and consumer-facing applications.

Traceability of provenance, transparency regarding freshness and product sourcing information all affect consumer purchase intent and satisfaction. Citing an industry survey conducted by Label Insight, Thinfilm said 94 percent of consumers indicate loyalty to brands committed to transparency and nearly three in four say they would likely pay more for such offerings. Changes in consumer awareness and increased regulatory scrutiny make supply chain integrity a priority in a wide range of industries, including food, wine and spirits, pharmaceuticals, health and beauty, and industrial products.

Christian Delay, executive vice president, software at Thinfilm, explained: ‘By combining blockchain with NFC, Thinfilm is extending the capabilities of the CNECT Cloud Platform. As NFC allows brands to communicate directly with consumers following a simple tap, blockchain integration ensures trust and transparency that can lead to stronger supply chains and more satisfied customers.

‘By integrating blockchain services into the CNECT Cloud Platform, Thinfilm is continuing its mission of enabling the Internet of Everything for enterprises and consumers.’

Thinfilm CNECT Blockchain Services are available now and are expected to be deployed in the market by customers starting in the third quarter of 2018.

Thinfilm recently released CNECT Cloud Platform 2.0, an upgrade to its cloud-based platform to enable remote tag management, custom content delivery, consumer activity tracking, and detailed analytics and reporting.