TEMCO, a blockchain-based supply chain project, started with the goal of activating a blockchain platform that helps participants transparently manage product data by connecting each supply chain point. To this end, TEMCO launched a blockchain-based supply chain management platform (B-Link) in July 2022 and launched a marketplace (GUHADA) where participants and consumers can buy and sell luxury products in the transparent and traceable supply chain ecosystem.
B-Link, TEMCO's blockchain based supply chain platform is a service that enables all the participants to share product-related information throughout the entire process from production, distribution, and consumption of products by utilizing blockchain technology that cannot be forged or manipulated. Also, B-Link can be applied to all industries such as agricultural products and luxury goods. Since the information recorded in the blockchain cannot be changed, the entire process of production and distribution can be transparently stored and browsed, important information such as product storage methods and quality certificates can be also shared with consumers. Currently, TEMCO's B-LINK has been released as a web version and an Android app version for operators in all fields that need to transparently manage product’s supply chain history.
B-Link is similar to IBM's blockchain-based food supply chain service 'Food Trust' and Vechain. Through B-Link, suppliers participating in TEMCO's supply chain blockchain ecosystem will be able to expand supply chain history services and use them for marketing by connecting information such as product origin, livestock history number, HACCP certification, and processors in their supply chain data.
Currently, TEMCO’s B-Link is being applied to pork products distributed in GS The Fresh, the supermarkets operated by GS Retail, a distribution company in Korea and also applied to about 40 primary distributors of European luxury retailers. The B-Link service will be extended to GS Fresh’s fresh food and contribute to customers’ purchasing by providing transparent information.
GUHADA is TEMCO’s blockchain-based luxury marketplace that directly contracts with European luxury boutiques participating in TEMCO VSS governance and provides genuine products to consumers through blockchain-based supply chain management, B-LINK, and API (Application Programming Interface) real-time integration technology.
GUHADA verifies genuine products from 40 European boutiques that distribute luxury products around the world through B-Link’s traceability supply chain technology and registers about 210,000 products through API integration.
TEMCO is operating boutique governance that selects new participants who wish to join GUHADA as a seller and governance that can authenticate the products and transparently register products. For a European boutique to become a seller on GUHADA, the boutique must join the seller governance council managed by TEMCO. Currently, about 40 European boutiques that distribute luxury products around the world are participating in TEMCO's seller governance council. Seller governance proposal can be passed when a majority approves by votes of existing governance members, and the governance member has the obligation to stake a certain amount of TEMCO. Additionally, governance also plays a role in determining the authenticity of suspected counterfeit products among products sold at GUHADA through voting.
Also, products from the governance are verified as genuine through B-LINK history verification technology, and then the products are listed and operated on GUHADA in real time through API integration and are simultaneously exposed to the best e-commerce channels in Korea. The data that TEMCO receives from European boutiques is currently integrated with over 10 e-commerce channels in real time, allowing boutiques to expand their sales through the GUHADA B2B2C model.