Nothing irritates charitable givers more than figuring out they got conned.
The burgeoning field of environmental, social and governance (ESG) is reportedly plagued with outright scams at its worst. Successful supply chain management depends on visibility throughout the full supply chain to fight greenwashing and other false claims.
Sustainability and ESG are seemingly becoming nearly critical in today’s supply chains because consumers expect compliance from companies that manufacture the products they buy. However, verifying the truth of a company’s ESG claims has been a challenge.
Global Compliance Applications Corp. FUAPF aims to solve the problem with blockchain technology. GCAC created the clearESG.app platform so that companies in multiple industries, including the cannabis, hemp and agriculture sectors, can authenticate their sustainability and ESG claims.
For growers, processors, manufacturers and retailers, GCAC’s Efixii dApp enables the business to attest, via a KYC verification feature, up to 50 of their ESG certifications. GCAC’s application programming interface (API) transfers ESG blockchain attestations to Web 2.0 via embed and QR codes, facilitating public, verifiable proof of its clients’ ESG certifications in any industry.
The Efixii blockchain is a leading Ethereum Layer 2 solution that boosts the speed and scalability of Ethereum smart contracts while adding privacy features. Decentralized applications (dApps) created on the Efixii blockchain help businesses solve their most challenging supply chain problems, including brand loyalty, resolution of quality issues and reward generation.
GCAC Gives As Good As It Gets?
The Efixii platform lets developers run unmodified Ethereum Virtual Machine (EVM) contracts and Ethereum transactions on a second layer, improving poor throughput and reducing transaction costs.
Efixii uses transaction rollups to record batches of Layer 2-submitted transactions on the Ethereum mainnet and execute them on its Layer 2 blockchain. ClearESG takes these attestations and earns ESG badges and renders them in real-time on the client’s websites.
In a recent press release, GCAC CEO Bradley Moore said, “Blockchain provides us with a technology platform that allows our company to quickly add transformational technologies and services. Developing tools that help the challenge of implementing sustainability goals not only helps our clients but makes an impact in the world.”
Moore went on to explain that GCAC not only benefits sustainability reporting but that “we can also help with analysis that reduces costs and provides a potential new source of income for the grower and manufacturers in terms of higher premiums for their products.”
Blockchain-based ESG tracking lets supply chain and procurement professionals improve resilience by reducing disruption and risks in procurement practices and measuring sustainability issues. Publicly traded companies like IBM IBM and Microsoft Corp. MSFT uses blockchain technology in many of their platforms, and the trend is growing.
With GCAC’s Efixii, developers don’t have to learn a new language to build smart contracts. Users earn native tokens rather than speculative, pre-mined tokens created by another organization. Its efficient roll-up technology means zero transaction fees because carbon-neutral solar mining of Ethereum (ETH) pays for rollup ETH gas fees. In keeping with cornerstone ESG principles, Efixii is carbon-neutral, generating electricity using a solar array.
To learn more about Global Compliance Applications Corp., visit its website.
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Photo courtesy of Global Compliance