Navigating the Future with BlockchainPosted On: Oct-09-2020  By: Jennifer Dalton

Over the past couple of decades, technology is progressing at an unprecedented rate in a direction we have never imagined. The views of the people have changed, the businesses are given a new direction, and cultures are intertwined. We feel ourselves living in a collective society where every day a new solution is developed to make things better. We are navigating the future with highly advanced technological advancements that are unpredictable. This new paradigm is majorly influenced by the revolution brought by the internet. Information is more readily available. With a couple of keyboard strokes, you can get a large selection of previously unexplored horizons to provide you with something new. Whether you have a retail manufacturing business, a software house, a box company near me, or a service provider, the internet can provide you unlimited opportunity to gain access to a large amount of content. Most of it proves to have a significant impact on our various aspects of life. Blockchain, sustainability, and governance are some of the most considerable aspects that help us to navigate the future better. 

What is Blockchain Technology?

Custom Boxes
 
A Blockchain is an advanced system of recording information in such a way that it becomes difficult to change, hack, or deceive the system. A decentralized consensus is used to maintain the network. It means that it is not controlled by any bank, business, or government; rather the larger the network grows; it becomes more decentralized and securer. The Bitcoin Network was the first victorious implementation of blockchain technology. However, with the increase in its demand, it gained a lot of attention in various industries including financial services, retail businesses, supply chain networks, non-profit organizations, arts, and e-commerce. Even it can be used by several packaging companies near me to improve the tracking of their custom printed boxes, strengthen the security, and ensure transparency of information. 

Blockchain Governance in Packaging Sector

Governance is all about different processes of governing. The members have a primary duty to enhance the prosperity and viability of an organization. Blockchain has a rapid adoption rate among various sectors and packaging is one of them. The technological advancements continued to make it easier to access. As soon as the blockchain went into practice, it has been started governing and influencing the packaging sector. Previously, keeping a track of custom printed shipping boxes requires extensive paperwork and special security measures along with the traveled goods. The businesses can easily keep a track of their custom printed packaging all along with the network. 

Blockchain and packaging

Rather than packaging slips, or printing boxes with serial numbers, and barcodes, etc; nowadays RFID is used to ensure authenticity. The customers can scan the QR codes printed on cheap custom boxes or any other packaging material using their smartphones to access maximum information. This enhances the engagement between consumers and the product. Similarly, the manufacturers and retailers use additional security features to know about the status of the product especially in the case of food, beverages, and pharmaceuticals.  Here are some of the areas of the packaging industry where blockchain is making a big contribution:

Blockchain as a Key to Sustainability

Blockchain is showing an emerging role in sustainability by helping to foster collaboration between the consumers and the producers. It assists people to adopt a more sustainable lifestyle, and help companies to improve their sourcing and recycling practices. Another prominent benefit of blockchain is that it ensures transparency. It provides a verifiable record of who buys what buy and whom from. It means that the companies which claim to be a positive resource or reducing their environmental impacts can be now counter-checked and verified by using blockchain technology. 
 
Eco Friendly Packaging
 
Nowadays, the majority of customers demand more sustainable practices for the choice of products they buy. According to research, around 60% of consumers prefer to buy products with clearly stated sustainability policies. This is most true for fashion brands like Allbirds and Veja, both of them have established a name in the market for their sustainable practices.

Blockchain and a Circular Economy

Custom Boxes
 
Critical to sustainability is the concept of a circular economy that consists of three R's: reducing the waste, reusing the products, and recycling materials. This pattern ensures that products or services are traded in closed loops/cycles. Whether it's the case of box manufacturers near me or any other type of business, blockchain ensures that nothing gets waste so we can play our part best to preserve the Earth's natural resources.
 
Shipping Boxes
 
Blockchain can also be helpful in this regard. In addition to transparency, blockchain technology ensures traceability. When working together; transparency and traceability can result in fast and simple provenance of items. As a result, it becomes easy to distinguish authentic products from fake ones and fight against counterfeiting, which causes big harm to our natural resources. All these are the wonders of blockchain technology. Consumers can get adequate information about sustainable products. This enables them to make best choices.

The technological advancements like blockchain have changed the picture of the entire world. They have increased customer involvement by providing them with transparent information about more sustainable products.

Blockchain Governance, Sustainability, Packaging Technology

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