My Story (VeChain) Definition
My Story is a digital assurance solution developed by VeChain in partnership with DNV GL, intended to provide detailed and transparent information about the lifecycle of a product. It enables consumers to verify product authenticity and ensures manufacturers are held accountable for their claims, thus improving consumer trust.
My Story Key Points
- Developed by VeChain in partnership with DNV GL
- Provides transparent information about a product’s lifecycle
- Improves consumer trust by ensuring accountability of manufacturers
- Creates a digital assurance solution for widespread industry use
What is My Story?
My Story is a blockchain-based application that provides unique insights into the supply chain journeys and true origins of products. By simply scanning a product’s QR code, consumers gain access to a database of product information including origin, production process, and environmental footprint.
Why is My Story Important?
In a market increasingly aware of authenticity, quality, and sustainability, My Story proves crucial. It increases transparency across supply chains, holds manufacturers accountable for their claims, and helps businesses build brand trust with their consumers.
Who Uses My Story?
Both producers and consumers use My Story. For producers, it offers a platform to validate their product quality, sustainability, and other claims. For consumers, it provides a tool to verify these claims, ensuring they make informed purchasing decisions.
Where is My Story Used?
My Story can be used in various industries, including food and beverage, apparel, and luxury goods. Any industry requiring transparency in products’ journey from source to consumer can benefit from this solution.
When is My Story Used?
My Story is used throughout a product’s lifecycle, right from its production to its final sale. It can be utilized whenever there’s a need for trust-building through transparency in the supply chain.
How Does My Story Work?
My Story uses QR codes or NFC tags attached to the product. When a consumer scans this, they get access to a blockchain-secured record of the product’s journey. This includes information on raw material sourcing, production, distribution, and more. This information can’t be altered, ensuring its integrity.
