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Madini and VeChain
What is Madini Africa?
Madini means “minerals” in Swahili. Madini Africa is a marketplace for purchasing/selling tracked/verified metals/minerals and related services from Africa.
It aim to represents the best for all in the African industry (including miners, refiners, traders, manufacturers, designers, makers, as well as retailers) and our vision is to build transparent minerals supply chains, regulated transactions, and people responsibly lead by example across the sector towards greater ethical sourcing, trust, and sustainability.
At Madini, we believe Bluegate BlockChain And VeChain Thor has the potential to powerfully disrupt many aspects of how Mineral Markets work, and provide trust, transparency, and security to the supply chain. This includes artisans and small-scale miners being part of our inclusive value chain that underpin human health, wellbeing, livelihoods, jobs and sustainable growth.
3 ways traceability can fulfill the sustainability promise
- Stakeholders are demanding sustainability throughout the supply chain.
- Businesses must invest in digital traceability tools to create circular supply chains.
- Cross-sector collaboration is key to making the 'digital thread' of traceability standard practice.
Customer satisfaction has always depended on supply chains. Yet now they must do more than simply deliver the product that customers want, when they want it. Today’s supply chains must also deliver on a brand promise: sustainability.
Across business-to-business and business-to-consumer industries, customers, investors, employees and regulators are demanding more sustainable products and production.
Sustainability is profitability
The operational implication is that companies must be able to see everything in their supply chains, trace where it came from, and trace where it went: from the smallest raw material inputs to finished products. Increasingly across industries, true sustainability also means companies must know what happens to their products beyond the point of sale. That redefines—or at least stretches—the current mission for many leaders overseeing supply chain design and management. It also demonstrates why viewing products through the customer’s eyes can be an important guide to determining how supply chains must evolve.
1. Upstream visibility for sustainable inputs
Digital tracing technologies allow manufacturers and brands to shine a light on previously opaque supply networks. Their upstream suppliers play a critical role here, since they know the provenance of inputs and materials. But manufacturers need to strike a careful balance between the insights they need for sustainability and the need to protect their suppliers’ interests.
That means each industry needs to develop information sharing and system integration standards that allow efficient data sharing in a world where one supplier often serves multiple customers across different sectors. It also means incentivizing suppliers to improve their own product tracing, a potential challenge for a manufacturer if they are not one of their supplier’s major customers.
New technologies can help support these incentive mechanisms. For example, blockchain technology can house the provenance data for specific inputs, and do so with the required privacy, allowing customers to choose the product that best fits their buying criteria and sustainability standards, which in turn will lead to more demand and revenue for suppliers who meet those standards.
2. Downstream visibility to enable reverse logistics
Digitally tracing products after the point of sale—often referred to as a ‘digital thread’ that follows a product throughout its lifecycle—opens up opportunities for new service business models and allows manufacturers to proactively manage a product’s end of life through remanufacturing or recycling.
This is simpler and more common in B2B relationships where service contracts govern customer relationships and information sharing. On the consumer side, maintaining a digital thread while still protecting the privacy of end customers is a trickier task, but industry coalitions and partnerships with consumer organizations can help reduce risk and speed up these efforts.
3. Product authentication to promote reuse
Digital tracing technology can also help authenticate goods for resale, which has been relevant in industrial applications in the past, but is also particularly valuable in the rapidly growing secondary market for many consumer goods. Digital verification technologies increase consumer trust and extend the life of products, but can also align the interests of brands and secondary marketplaces that have historically had limited reasons to collaborate and share data.
As brands look to extend the life of their products and actively manage the consumer experience in secondary markets, certification that a product bears an authentic brand can help reduce the volume and value of counterfeits. That comes with a massive additional sustainability benefit: fake products often come from very opaque supply chains that likely violate many of the United Nation’s Sustainability Development Goals, particularly those focused on sustainable production and safe and decent conditions for workers.
Across industries, sustainability—and the supply chain traceability on which it depends—is the cost of entry for companies today. Traceability depends on companies figuring out how to collaborate within and across industries. This is the goal of the World Economic Forum’s Accelerating Digital Traceability for Sustainable Production initiative. All companies should be thinking now about how customer and other stakeholder needs may reshape their supply chains, and how they will partner across their industries for more sustainable products and a healthier, safer world.
If you find yourself wondering how blockchain works or what it is, here’s a brief explanation.
Blockchains are a new form of database. They store transactions (such as transfers, deliveries, or purchases) in blocks. Their advantages arise primarily from two principles:
- A blockchain works decentrally. All participants first determine what information should go into the blockchain – they agree, so to speak, on certain rules of cooperation. Then they store all transactions on the blockchain as equals and monitor each other. There is no central server that could fail or be manipulated. Anyone who tries to change data later on would have to do so with more than half of all participants.
- Each block receives a digital fingerprint known as a “hash”. And each block contains the hash of the previous block and thus its encoded content. This means that all blocks are linked together (hence the word “chain”). So if someone were to change a block of data, the manipulation would immediately attract attention because the content and fingerprint would no longer match.
Madini Africa powered by VeChain
VeChain Thor BlockChain is a hybrid digital protocol designed to be flexible, adaptable, accessible and lightweight, with a focus on solving real world economic problems. Madini, a startup focusing on supply chain management, has been deploying blockchain technology to record the detailed history of products in order to provide a quick and easy way for consumers and relevant parties to verify their authenticity. Meta-transaction features native to Madini Bluegate blockchain’s core protocol, such as multi-party payment, multi-task transaction, controllable transaction lifecycle, transaction dependency, make the development more user-friendly for enterprise adoption.Madini Online LTD - Kenya
Madini Marketplace features
The main value proposition of Madini Marketplace
Value 1: Enhance Sustainability, Traceability, Trust, Brand Image And Consumer Confidence On African Mineral Products.
The Madini blockchain-enabled minerals trade solution powered by Bluegate can improve products transparency and sustainability, communication and boost customer satisfaction. Producers can choose to engage customers by providing access to related product information stored on the blockchain. This provides increased visibility into minerals: origin, producer, regulation, taxes, licenses, quality, and the like, which in turn can build trust, loyalty and contributes to a stronger business-customer relationship.
Value 2: Enable African Enterprises to Introduce And Complete Blockchain Proof-of-concepts Efficiently.
Bluegate blockchain-enabled African Minerals (Madini) trade solution powered by Bluegate can provide African enterprises with various traceability templates that have been effectively verified, including origin traceability, cross-border traceability, full-process traceability, licenses, clearance and export taxes and regulations.
At Madini, the solution covers a wide variety of use cases and sub-sectors in the Minerals industry. Companies can quickly carry out concept verification at little to no lead time and experience the full potential of blockchain technology for their respective sub-sectors.
Value 3: Facilitate Large-scale Blockchainization of Supply Chain in Africa In A Fast And Cost-effective Way.
Madini provides easy-to-use customizable tools. minerals companies can build their exclusive business process easily, which greatly saves the time to market investment, shortens the project lead time and achieves scalability.
Value 4: Unleash New Business Value By Data On Blockchain Platform
The blockchain-enabled minerals trade solution can help minerals companies exploit value via data generated by their own business. The immutable data on the blockchain enables companies to increase the efficiency of compliance review, government supervision, logistics and supplier evaluation and more. Companies will also gain access to world leading third-party services through Bluegate partner network, greatly reducing the cost of certification, audit, insurance or supply chain logistic services.
Bluegate now has specialization in products traceability based on accumulated know-how and refined technology. Joining hands with other strategic partners on this platform, Madini aims to expand the business globally to address business needs of more enterprises in the minerals industry.
Transparency across the entire process
Blockchain as a truth engine - Accurate and comprehensive records of public expenditure are essential in stamping out corruption and waste. Blockchain could hold the key. Groups of transactions are locked into ‘blocks’ of data, forming a chain stretching back to the originator. Unlike other payment and record-keeping systems, the blockchain ledger is distributed around a network of computers, each of which can see if the original has been altered. This makes it very difficult to tamper with or falsify these records. Opportunities and priorities for business - Businesses have opportunities to develop blockchain solutions that bring together all the stakeholders involved in record-keeping and record-usage. This already includes verification and tracing of minerals or any other asset.Madini Africa - Kenya