Transparency and publicity of the companies look like well-established trends of contemporary market realities.To win the competitive race, the business should offer to its consumers not only a quality product but also proper data about the origin and safety of their products, the sustainability of production and delivery processes.
Business owners are looking for sustainable and transparent partners to preserve and maintain their reputation. At the same time, companies attempt to be more open and disclose more information to the consumer - however, this looks like this at first glance.
In fact, the demand for awareness, stability, ethics, and sustainability for companies is not an excuse to improve and truly open their methods and processes from the inside. Various companies prefer to do a mere formality to get the necessary labels from inspecting bodies or third-party certification and become more attractive to partners, consumers, and investors.
False Sustainability and Trust Issues
Corporations attempt to show how green, sustainable, and innovative they are. But there is the marketing behind it: green and eco-friendly labels improve sales. Such businesses are more attractive to partners and investors. However, it turns out that the consumer demand for real sustainability has shifted to the commercial demand of companies to obtain the status of "sustainable business".
Recently, the certification market has shown great activity. For instance, the coffee sector only offers labels such as "shade-grown," "organic," "fair trade," "bird-friendly" to its consumers, not to mention certified brands. Despite this activity, the certification system is not reliable enough: certification systems cover only a part of the internal processes and less than 10 percent
of the market at all. The methods of labeling are rarely trustworthy and often aim to attract manufacturers and their funds: it greatly lowers the standard for qualifications.
At the same time, even a completely independent inspection and issuance of a certificate cannot give consumers a real living idea about the company and its sustainability. Consumer confidence remains questionable: without openness and transparency, there can be no trust in the company's sustainability.
The demand for openness
remains unsatisfied: the consumers and investors cannot be sure of statements about the sustainability neither from the companies themselves nor from the lists provided by rating agencies. The last ones have long and seriously caused distrust, since the crisis of 2008, when huge financial corporations topped the ratings of the most sustainable companies burst. Later, the activities of companies from the top list of sustainability and eco-friendliness have caused numerous human and technological disasters and a significant impact on the environment. Its consequences will remain for decades.
Transparency Makes Sustainability Real
Is it possible to move the market towards actually sustainable development? Environmental changes and recent research
suggest that it is our only way to grow and even survive as a human species. To go down this path, we need a methodology for defining real sustainability and a mechanism to ensure it. The only right basis for sustainability is complete transparency and accountability in real-time.
Smart technologies can indeed provide such conditions for private sector as well as for public institutions. To ensure accurate data collection, processing of continuous dataflow, security, and accountability, companies should turn to IoT, Big Data, and Public Blockchain
Technological Transparency Means an Advanced Future
IoT and IIoT are technologies for autonomous data collection. Manufacturing and delivery processes are equipped with a smart sensor system at every stage and it monitors processes in real-time. This system automatically and continuously records each detail, including the quality and origin of raw materials, production stages, delivery, and storage conditions, into the database. To make these systems more effective, secure, and controlled, it is important to use them in combination with Big storage and Public Blockchain technologies.
Big Data is required to work with the collected data and make forecasts. When companies consider the analysis of a large amount of high-quality data and forecasts based on it, they can more precisely and correctly allocate resources and focus on specific parties of their supply chains. Big Data provides production flexibility, customizability of supply chains, better product compliance with consumer demand, and resource savings.
Public Blockchain is a secure data storage and public control. Data on the activities of companies is trustworthy, invulnerable, and verifiable when it is recorded in the blockchain. Public Blockchain provides full access to information to all interested parties. Each transaction becomes traceable and the business operating is controlled. Decentralization of surveillance and control increases the effectiveness and builds trust between companies, partners, investors, and consumers, creating a friendly environment for sustainable development.
FCE Combines Technologies for Transparency
Developers throughout the world have been looking for solutions for years to properly combine technologies and make them convenient for widespread use. FCE created Platform that combines IoT, Big Data, and Public Blockchain for business use. The Platform
is a system of IoT smart sensors and tagging for production and logistics tracking, with the blockchain as the internal core and the system for processing data and forecasting. These technologies are reliable: machines collect and analyze information without involving human resources, while giving access to the data to the parties and protecting information from intrusions.
The open-door policy is equally important for employees, partners, investors, and customers of the company. This should not be a blank sound, but the connectivity and transparency built on the experience and use of new technologies. Each company can embed IT in its model in its own way, and share experience within the framework of FCE Initiative
The combination of different smart technologies is a necessary solution for secure and controlled transparency, which is necessary as a condition for steady sustainable development. Dark places, hiding information, and opacity are a potent threat to the stability and safety of people and the environment. Now, at the time when the world is shaken by crises and catastrophes, the companies cannot afford dishonesty and opacity. The world needs true transparency, technology adoption, - and sustainable growth.