For me, this is a good idea. Because honestly, it will upgrade the way how people tracks the bullets and guns. And for this, it makes to mature even more the influence of the blockchain technology around the globe.
But what I don't understand about this idea is why we need a separate tracking blockchain for one specific industry, when many general-purpose ones can do the same job even better, and with more security.
It is necessary to separately discuss the safetylessness in the field of cryptocurrency. I think that it is still very important to develop an insurance system for the field of cryptocurrency.