How much do you have trust in the products you buy? By trust, we don’t mean how well they work for you. In terms of how an item works, it might be the most reliable item you’ve ever owned. However, we’re referring to the trust you have in the companies you buy from that they’re doing the right things for their workers. Adhering to the principles you have in your life and being kind to the environment while they’re at it.
According to a 2018 study carried out by “2019 Edelman Trust Barometer Special Report: In Brands We Trust”, It turns out that not many people do trust the companies they buy from. In fact, the number showing confidence in them is a paltry 34%. Thankfully though, new blockchain startup PaperTale looks set to change all that.
PaperTale is the new blockchain platform created by Swedish entrepreneurs. Under their platform, it will be possible for consumers to regain trust they have in companies with the aid of their smartphone. How so?
Well, for companies signing up to the PaperTale platform, consumers will be able to scan their products using their phones and see a detailed overview of the business practices the company uses. To start with, you’ll be able to look up authenticated information on everything from supply chains to the product’s environmental impact. You’ll also be able to see just how much workers were paid for making the product in which country, so you can make a judgment call as to whether you think they were paid a fair wage. Going further, you’ll even be able to use your phone to tip the workers who made your product if you wish. And as this is all built on the blockchain, every facet of what you see or transact can be independently verified.
PaperTale will give you access to more details about the products you buy than ever before, letting you cut through advertising fluff and marketing jargon, getting right to the heart of businesses’ core practices, so you can deduce which company’s operate the most ethically.
The platform lets you weigh up all the pros and cons by way an ‘environmental calculator’ through the app, and lets consumers be so much more in tune with their products, and more interactive and involved with the people behind them.
PaperTale has been two years in development and is now about to go live on Kickstarter on the 13th of November. Those who believe in the product and support them here will be the very first to gain access to the products produced using the platform.
With a Pakistani textile company already onboard showing proof of concept, backers can see how PaperTale is the real deal, and make the plunge into a more ethical way of buying their favorite products.
Jenny has been reporting on small business issues since 2001 where she held a number of freelance positions across the leading SME publications in the UK. Specialist subjects included SME financing and tax.