The Provenance Project Analysis
Wall Street was Born of Slavery - Blockchain is Here to end it!
Before Wall Street became the world leading financial district, it was a slave market. In 1711, the New York City Common Council declared the Lower Manhattan city as the first official market for the sale and rental of African and Indian slaves.
The trade is said to have happened at the corner of Wall and Pearl Streets which was part of the slave-based Dutch settlement founded as New Amsterdam in 1624. It was not until 1762 that the slave auction was ended. Slavery was later abolished in 1865 through the 13th amendment passed by Congress.
Fast forward, a few months ago, the CNN aired a story about migrants being auctioned for slavery in Libya. Following the story, a lot has …show more content…
Provenance, a London based NGO, is utilizing blockchain to trace the seafood from the moment it is harvested to its arrival in supermarkets for sale.
The project seeks to have all fishing vessels in Thailand installed with a Radio Frequency Identification (RFID) tag to make it possible to trace the journey of each fish from the moment it is caught to the time it arrives in the dinner plate. This will make it possible for the respective governments and the consumers to monitor the process and ensure that it is socially responsible.
For the migrants, the Provenance project seeks to make it mandatory for them to have a wearable tech that can record their biometric data including their contractual agreement with employers and real-time location.
With this technology, consumers will have the choice of only buying products that prove to have been processed through humane labor. The implication is that employers will find it nearly impossible to exploit their human resources. It will also be easier for the authorities to track the immigrants' whereabouts and follow-up on those who …show more content…
Founded in 2016, SlaveFreeTrade boasts to be the first verification framework dedicated to eliminating slavery in business supply chains. The project seeks to create a platform where businesses can account for their supply chains and consumers can trace and only purchase goods that are socially responsible.
Just like Provenance, the SlaveFreeTrade utilizes blockchain to track the supply chain and put to light the type of raw materials and labor used in the process.
Every time a product changes hands, the transaction is recorded on the blockchain, therefore, creating a permanent history of the product from production to manufacturing to sale.
This approach not only guarantees slave-free labor but can also be helpful in ensuring that companies are environmentally conscious while still maintaining operational efficiency.
Bottom Line.
The best part about the blockchain solution is that everyone including the end consumer of the products is able to trace the supply chain meaning that they can avoid products with integrity
Before Wall Street became the world leading financial district, it was a slave market. In 1711, the New York City Common Council declared the Lower Manhattan city as the first official market for the sale and rental of African and Indian slaves.
The trade is said to have happened at the corner of Wall and Pearl Streets which was part of the slave-based Dutch settlement founded as New Amsterdam in 1624. It was not until 1762 that the slave auction was ended. Slavery was later abolished in 1865 through the 13th amendment passed by Congress.
Fast forward, a few months ago, the CNN aired a story about migrants being auctioned for slavery in Libya. Following the story, a lot has …show more content…
Provenance, a London based NGO, is utilizing blockchain to trace the seafood from the moment it is harvested to its arrival in supermarkets for sale.
The project seeks to have all fishing vessels in Thailand installed with a Radio Frequency Identification (RFID) tag to make it possible to trace the journey of each fish from the moment it is caught to the time it arrives in the dinner plate. This will make it possible for the respective governments and the consumers to monitor the process and ensure that it is socially responsible.
For the migrants, the Provenance project seeks to make it mandatory for them to have a wearable tech that can record their biometric data including their contractual agreement with employers and real-time location.
With this technology, consumers will have the choice of only buying products that prove to have been processed through humane labor. The implication is that employers will find it nearly impossible to exploit their human resources. It will also be easier for the authorities to track the immigrants' whereabouts and follow-up on those who …show more content…
Founded in 2016, SlaveFreeTrade boasts to be the first verification framework dedicated to eliminating slavery in business supply chains. The project seeks to create a platform where businesses can account for their supply chains and consumers can trace and only purchase goods that are socially responsible.
Just like Provenance, the SlaveFreeTrade utilizes blockchain to track the supply chain and put to light the type of raw materials and labor used in the process.
Every time a product changes hands, the transaction is recorded on the blockchain, therefore, creating a permanent history of the product from production to manufacturing to sale.
This approach not only guarantees slave-free labor but can also be helpful in ensuring that companies are environmentally conscious while still maintaining operational efficiency.
Bottom Line.
The best part about the blockchain solution is that everyone including the end consumer of the products is able to trace the supply chain meaning that they can avoid products with integrity