iTRACE Technologies’ patented secure blockchain enabled verification solution now available on Honeywell Marketplace
Honeywell announced it is helping companies with complex supply chains leverage blockchain technology for end-to-end tracing, identifying and removing counterfeit parts, improving inventory management and managing their brand reputation.
Honeywell is working with iTRACE Technologies – a provider of supply chain security applications for anti grey market and anti-counterfeit – to integrate product verification technology with industrial printers to provide real time verification, authentication and track-and-trace of printed labels.
The iTRACE 2DMI solution can be easily printed, verified and registered to the blockchain directly on the Honeywell PX940v Industrial Printer, enabling secure product authentication and track and trace to be deployed in any warehouse or production location. This new integration allows the physical printed item to be connected to the digital ledger, creating a digital twin for online authentication and adding another level of security for industries, including transportation and logistics, pharmaceuticals and healthcare, shipping and distribution centers, industrial manufacturing, automotive parts suppliers, and applications that are regulated and require high precision and error-free printing.
“The use of blockchain offers businesses many opportunities to ensure supply chains of all complexities reduce fraud and increase trust with consumers and suppliers,” said Kevin Dehoff, president of Honeywell’s Productivity Products business. “This simple to use and easy to deploy secure implementation of an anti-counterfeit technology used with our industrial printers will have a huge impact in the manufacturing and distribution industry where it has often been difficult to deploy these kinds of advanced track-and-trace and authentication solutions.”
“The PX940v’s ability to capture the printed image, inline while printing, made it the ideal platform to print and register 2DMI Marks to a database or blockchain digital ledger,” said Mark Manning, iTRACE founder and CEO. “This printing, verification and registration of the printed label creates a complete chain of custody for the label from the moment it is created. This information can then be used to authenticate the product or label anywhere in the supply chain using the iTRACE mobile apps.”
Once the secure label is applied to the product, it can be tracked and authenticated on the blockchain ledger at every stop on its journey, creating a provenance for the item and confidence in its authenticity.