The Haystack
Applying Blockchain Technology to Supply Chain Analysis
Manuela Sanchez Gonzalez
KEYWORDS
Project
The Haystack is a platform that aims to help businesses and companies gain visibility within their own supply chains. This visibility further enables companies to access valuable data so that they may assess anomalies related to their supply chain’s sustainability. Through the use of our algorithm, which directs and programs the use of blockchain technology for supply chain analysis, The Haystack will provide companies the transparency they need to learn about where the goods they use for production come from and enable them to learn about how they were extracted and by whom. Increasing supply chain visibility will allow companies to avoid misrepresentation and capacitate their efforts to achieve sustainability related goals. At The Haystack we believe that having access to this information is your right, and that technologies like blockchain can help seed positive change, adopt more sustainable business models, and attract socially conscious consumers.
challenge
Throughout this project, I faced many roadblocks. At the beginning of the semester, I had initially imagined a platform that would use blockchain to verify products by assessing their net impact in relation to sustainable practices – my goal was to address greenwashing and perceived sustainability. By revisiting my research and discussing my project with industry professionals, I determined that revising my idea and pivoting its focus would make my concept more impactful and feasible. Furthermore, I realized that my initial knowledge about blockchain technology was a bit naïve. I received negative feedback in regard to the environmental impact of blockchain and the inconsistencies that it posed for my project. But I was intent on proving blockchain could also decrease the negative environmental and social impacts caused by complex systems like supply chains that lack transparency and internal understanding.
Outcome
I concluded that creating a platform like The Haystack would be the best and most transformative way to mitigate sustainability related risks within supply chains. Adopting blockchain solutions for supply chain analysis can provide revolutionary transparency. The goal of The Haystack is to make complex systems more approachable. By providing comprehensive supply chain analysis, businesses can gain valuable insights and data points that can help teach their supply chains to regulate themselves and track anomalies related to sustainability data. That way our combined endeavor and commitment to amend complex supply chain systems, in a sustainable and ethical manner, can help offset the collateral negatives associated with the current system’s lack of supply chain transparency and proper technological analysis.
Learn more about the students:
Manuela Sanchez: https://www.parsonsbba.com/sp21-studentprofiles/manuela-sanchez