TraceX Partners With CannSol To Ensure Traceable Nutraceuticals
TraceX Technologies, a blockchain-powered traceability platform that enhances food and supply chain transparency, has partnered with Liechtenstein-based CannSol, a nutraceuticals company that offers a range of nutritional supplements. Through this collaboration with TraceX, CannSol will offer traceability of each ingredient at every stage of the production of the product.
CannSol Science AG is a subsidiary of CannSol Holding AG that works with quality nutritional supplements in Liechtenstein, Europe. Their production chain comprises three companies and each is in charge of a different stage of the manufacturing process. The raw materials such as turmeric and ashwagandha extracts are sourced from India which are then stored at their warehouse in Liechtenstein.
The next few processes such as encapsulation, solubilization, and packaging are carried out at different locations by different participants in the supply chain. Considering the number of stakeholders involved in the supply chain, traceability is crucial to ensure visibility and transparency in the supply chain and to build a credible product.
TraceX’s blockchain-powered traceability solution enables CannSol to have all the stakeholders on a common platform, thereby providing trust and transparency to all, the company said in a statement.
“This partnership with TraceX further strengthens our commitment to creating traceable and trustworthy products. With TraceX, each raw material and each final product is labelled with a QR code from the system. In this way, we can provide all the necessary data at any time. When the end customer scans this code, he sees a customised interface where they can trace the most important information about the product and its ingredients.” said Dr Angelo Pidroni, CEO, CannSol.
“By offering traceability for their products, CannSol is redefining the farm-to-bottle story of the raw material extracts from the Indian soil to the European market shelves. A connected supply chain with transparency across the multi-stakeholders is the need of the hour and that is being realised with TraceX's Blockchain traceability platform,” said Anil Nadig, Co-Founder, TraceX Technologies
