Digital Traceability | BlockChain | BlockChain & Digital Traceability | NFT Ecosystem
What is Blockchain in Agarwood Trade?
Blockchain is a decentralized, tamper-proof digital ledger that records transactions securely. In the Agarwood industry, it ensures traceability, transparency, and authenticity across the supply chain, from cultivation to final product sales.
Why is Blockchain Important for Agarwood?
1️⃣ Prevents Illegal Trade & Poaching – Agarwood is a CITES-regulated species, and blockchain helps track legally sourced wood.
2️⃣ Ensures Authenticity & Quality – Buyers can verify whether the Agarwood oil or chips are genuine and sustainably sourced.
3️⃣ Supply Chain Transparency – Farmers, traders, and buyers can track each step from plantation, harvest, resin extraction, processing, and sale.
4️⃣ Increases Market Trust – Ethical sourcing attracts premium buyers and international markets.
How Blockchain & Digital Traceability Works
QR Codes / RFID Tags – Each Agarwood tree, oil batch, or product gets a unique ID stored on the blockchain.
Real-Time Tracking – Farmers, processors, and buyers can scan and verify origin details.
Smart Contracts – Automates payments when product conditions are met.
Immutable Records – Transactions can’t be altered, ensuring trust and compliance.
Potential Applications
✔ Export & Certification – Ensures Philippine Agarwood meets international standards.
✔ Consumer Engagement – Buyers can trace the source of their oud oil or perfume.
✔ Regulatory Compliance – Helps government agencies monitor legal trade and prevent overharvesting.