Business

Blockchain-based origin tracing system iTrace247 debuts

The blockchain-based origin tracing system iTrace247 made its debut at a seminar in Hanoi on March 21, which was held to review the Support of Regional Economic Cooperation in Asia (SRECA) project.
Blockchain-based origin tracing system iTrace247 debuts ảnh 1Illustrative image (Photo: Internet)

Hanoi (VNA) – The blockchain-based origin tracing system iTrace247 made its debut at aseminar in Hanoi on March 21, which was held to review the Supportof Regional Economic Cooperation in Asia (SRECA) project.

Thesystem enables firms to market their images and trademarks in both domestic andforeign markets while giving consumers an insight into the farming, processing, transportationand distribution process of products.

TheiTrace247 origin tracing stamps have been piloted at home since March 2021 forvegetables and fruits from the provinces of Hai Duong, Son La, and Bac Giang.To meet export demand, the tracing stamps could display information inlanguages requested by customers, thus fulfilling transparency requirements ofimport markets.

Previously, Thanh Ha lychees from thenorthern province of Hai Duong were labeled with iTrace247 origin tracing stampsin English and Japanese languages, which were successfully exported toSingapore and Japan. Based on these initial successes, iTrace247 hasupgraded its version with a blockchain-based feature to meet demand ofstringent markets.

Speakingat the event, Director of the Vietnamese Ministry of Industry and Trade’sVietnam Trade Promotion Agency (VIETRADE) Vu Ba Phu said 2023 is a core year tosuccessfully realise the 2021-2025 economic development plan, in which thedigitalisation of trade promotion activities, wider adoption of information technologyand digital transformation are important contents of the digital governmentbuilding policy.

Blockchain-based origin tracing system iTrace247 debuts ảnh 2At the ribbon cutting ceremony (Photo: VNA)

A representative ofthe German Agency for InternationalCooperation (GIZ) said Vietnam’s exports are expected to grow by 6% thisyear, thus opening up new business expectations for enterprises.

Participants reviewed the SRECA project, a joint effort between VIETRADE and GIZ from 2019-2022.The project aims to improve the capacity of tradepromotion and support organisations, cooperatives, and small and medium-sizedenterprises, and help them take advantage of opportunities from the ASEAN-Chinaagreement to successfully export farm produce to China./. 

VNA
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