CREDUCE signs MoU with TraceX Technologies to build a homegrown 100% carbon-neutral product
This enable consumers to map traceability from origin to end usage
The solution will help race the entire product lifecycle, from origin to finished goods to final consumer
It will help build trust and loyalty and inspire action with complete carbon footprint mapping
Bengaluru: CREDUCE, a Carbon Credits Origination and Offset solutions provider, and TraceX Technologies, end-to-end product origination and traceability solutions leader, have come together to build a product that enables product traceability, carbon footprint mapping and offsetting solution with Web 3.0 and Blockchain. The two leading names signed the MoU with a vision to create a homegrown product that will empower consumers to use 100% carbon-neutral products and trace the origins of the same with a QR Code.
The solution will help trace the product’s lifecycle from origin to finished good and end result with the consumer. It will be the sole digital source of truth for products, revealing the complete carbon footprint mapping at every stage. The companies will benefit from the speedy and automated resolution of incidents, withdrawals and product recall. The goal is to achieve transparency about every sourced ingredient and asses carbon, water and methane footprint. The manufacturers and sourcing partners can nullify the product’s 360° footprint with a single click and use World’s First Super Sustainable Blockchain Token, Kichee Token.
Talking about the MoU, Shailendra Singh Rao, Founder of CREDUCE and a Climateur, said, “With TraceX Tech, we are building a solution that will help companies create circular, a sustainable supply chain that saves time and money and helps the environment by producing carbon and environmentally-neutral product. The companies will be able to secure brand reputation, protect consumers’ right to consume an environmentally positive product, and fight counterfeits with supply chain data. We look forward to seeing the world reap the benefits of this partnership.”
Anil Nadig, CoFounder at TraceX Technologies, said, “TraceX Technologies is grateful for all the collaborations that bring us one step closer to our purpose. Our recent partnership has ensured we are on a rewarding and fun journey with CREDUCE and Kichee Token towards a collaborative mission.”
The Beta version and proof of work are being tested, and both companies will use their respective expertise to finalize the user-ready product shortly.