Frequently Asked Questions
- Why blockchain?
Blockchain can help reach business goals around traceability, compliance, freshness and more by enabling a holistic ecosystem. A blockchain solution is not just about technology, it's about solving business problems that have been insolvable before due to the inability of the ecosystem to share information in a transparent, immutable and trusted manner. Unlike other systems of record, blockchain technology provides a trusted record of data.
- What is blockchain?
Blockchain provides the foundation for a new generation of transactions that establishes trust and transparency, while streamlining business processes. Some blockchain networks, such as Bitcoin, are open to all and anonymous. Anyone can join and see any transaction that happens on those networks. These networks typically require resource-intensive computations to help prevent fraudulent transactions. MedTraces's blockchain solution, on the other hand, is permissioned so invited members know exactly with whom they are transacting, similar to what happens between business partners today. Participants also determine what data is seen by whom, thereby providing information on a need-to-know basis. Smart contracts also run on our blockchain, allowing business logic to help solve disputes, automatically execute contracts, and build trust.
- What is MedTrace?
MedTrace, built on blockchain, benefits all network participants with a safer, smarter, and more sustainable food ecosystem. The digitization of transactions and data provides a more efficient way of working across the supply chain, including growers, processors, shippers, retailers, regulators, and consumers. The solution provides authorized users with immediate access to actionable food supply chain data, from farm to store and ultimately the consumer. The complete history and current location of any individual food item, as well as accompanying information such as certifications, test data and temperature data, are readily available in seconds once uploaded onto the blockchain. The software-as-a-service (SaaS) solution is working to ensure that trust enables, rather than hinders, the expanding food system. With capabilities for safer food, longer shelf lives, reduced waste, faster traceability, and better access to shared information, MedTrace can empower you to meet the new standard for transparency and trust.
- How does MedTrace ensure that data entered by various parties can be usable in the solution?
MedTrace has been built leveraging both business and technology standards. To ensure maximum value and access to all participants, our solution leverages standards already implemented across the food industry (i.e., GS1) and open-source technology such as Ethereum. Interoperability on both business and technology levels enable MedTrace participants to exchange information across the food ecosystem. We work with industry leaders (e.g., GFSI) to drive industry standards for sustainability, food safety, and quality assurance.
- How secure is the solution?
MedTrace provides the highest level of commercially-available, tamper-resistant protection for food supply chain transaction data. Use of MedTrace Cloud offers unique protection from insider credential abuse, protection from malware and hardware encryption key protection. Features include: Always-on, high availability with seamless software and blockchain network updates, Hardened security stack with no privileged access, which blocks malware, 24/7/365 Blockchain Support, Built-in blockchain monitoring for full network visibility.
- What data types are leveraged and what APIs are available for MedTrace?
Please visit our Developer Zone(coming soon) for further information on APIs and data types.
- Who owns the data?
You upload, you own, you control.
Your data belongs to you. Data is owned by the registered company or organization that owns the data prior to it being uploaded to MedTrace. Users can set permissions that govern what data can be seen and by whom – determined solely by the owner of the data. Data uploaded by a third party is owned by the original owner.
- How do I invite others to join?
All food ecosystem participants can join MedTrace, via tiered modules available to buy in our Marketplace. You can connect to your partners and define what information is shared when you define your transactions. MedTrace provides users and stakeholders with real-time, instant access to business-critical information from which everyone benefits.
- What value are the participants seeing from the solution?
Clients are now able to trace from store back to the farm in 2.2 seconds, where data is available. Additional business value and savings depend on company size, brand values and number and category of products implemented. Estimate the potential value you may have from the solution implementation by using the MedTrace Value Assessment Tool, which was built based on average savings that current participants are seeing.
- What technology is required to use MedTrace?
Being a Software as a Service solution (SaaS), a browser and access to internet is needed to run the MedTrace applications. Also there are APIs available for data upload and integration with your ERP system.
- What are the steps required for onboarding onto MedTrace?
Onboarding to MedTrace starts with: assembling your team of food supply chain experts and data integration experts, identifying your facilities and products, defining your product scenarios, uploading data and setting up permissions