Industry studies show the business value added from blockchain technology will grow to more than $3.1 trillion by 2030. Blockchain technologies provide new ways for value exchange, represent assets and implement trust mechanisms. “This simple to use and easy to deploy secure implementation of an anti-counterfeit technology used with our industrial printers will have a huge impact in the manufacturing and distribution industry where it has often been difficult to deploy these kinds of advanced track-and-trace and authentication solutions.” “The use of blockchain offers businesses many opportunities to ensure supply chains of all complexities reduce fraud and increase trust with consumers and suppliers,” said Kevin Dehoff, president of Honeywell’s Productivity Products business. This new integration allows the physical printed item to be connected to the digital ledger creating a digital twin for online authentication, adding another level of security for industries including transportation and logistics, pharmaceuticals and healthcare, shipping and distribution centers, industrial manufacturing, automotive parts suppliers and applications that are regulated and require high precision and error-free printing. The iTRACE 2DMI™ solution can be easily printed, verified and registered to the blockchain directly on the Honeywell PX940v Industrial Printer, enabling secure product authentication and track and trace to be deployed in any warehouse or production location. ![]() ![]() ![]() Honeywell is working with iTRACE Technologies, Inc., a leading provider of supply chain security applications for anti grey market and anti-counterfeit, to integrate product verification technology with industrial printers to provide real time verification, authentication and track-and-trace of printed labels. CHARLOTTE, N.C., Aug. 12, 2020 – Honeywell (NYSE: HON) today announced it is helping companies with complex supply chains leverage blockchain technology for end-to-end tracing, identifying and removing counterfeit parts, improving inventory management and managing their brand reputation.
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