In today’s fast-paced world, the supply chain has become an integral part of the economy. However, the traditional supply chain model is facing multiple challenges, including lack of transparency, trust, and sustainability. Nexity Network, a Los Angeles-based startup, is leveraging blockchain technology to create a circular supply chain that is more transparent, responsible, and secure. Let’s explore how Nexity Network is building a blockchain-enabled circular supply chain.
Blockchain-Enabled Circular Supply Chain
Nexity Network is building a blockchain-enabled circular supply chain to rethink how everything is designed, created, used, and recycled, from the food we eat to the clothes we wear and how we do business. The circular supply chain model aims to reduce waste and environmental impact by keeping products and materials in use as long as possible. With the help of blockchain technology, Nexity Network is creating a more transparent and productive world by providing end-to-end visibility of the supply chain, from manufacturers to distributors, consumers, and recyclers.
Creating a Digital Twin of Products
Manufacturers will no longer have to worry about how the product is performing after leaving the factory because Nexity Network is creating a digital twin of their products to capture data along each consumption step of their lifecycle. The digital twin would provide real-time lifespan data and performance, environmental impact, stories, and events – everything to protect their brand and create a never-before-seen connection with their customers and partners. This would enable manufacturers to ensure that their products are performing as expected, and they can use the data to improve their products’ design and performance.
Augmenting the Buying Process
Retailers would no longer worry about old, web-based user experiences and low/no interaction between products and customers. Nexity Network is augmenting the entire buying process in a reactive, living system experience that virtually connects the customers with the products they love. The customers can use the digital twin data to understand the products’ performance, and they can also provide feedback to the manufacturers, which would help in improving the product design.
Creating a Network Effect
Nexity Network is incentivizing supportive Kols, Resellers, and Ambassadors to amplify the benefits of a network effect required to enable circular business applications that are forming the nodes of their infrastructure. This would pave the way for Nexity to become the global standard in any supply chain activity and for all stakeholders from manufacturers, distributors to consumers and recyclers. The circular supply chain model would also incentivize customers to participate in the recycling process, and they would get rewards for returning the products at the end of their lifecycle.
Nexity Network is a startup that is revolutionizing the supply chain industry by creating a circular, more transparent, and productive world. With its focus on blockchain technology, Nexity Network is providing end-to-end visibility of the supply chain, creating a digital twin of products, augmenting the buying process, and creating a network effect. Nexity Network’s circular supply chain model would reduce waste, environmental impact, and increase trust between stakeholders. It’s a startup to watch out for in the future.
Website: http://nexitynetwork.org/
Twitter: https://twitter.com/nexityorg
LinkedIn: https://www.linkedin.com/company/nexitynetwork/
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