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Can Blockchain be Considered a Boon in the Food Industry?

Food and Beverages | Monday, December 02, 2019

Blockchain holds the potential to trace and record transactions for strengthening food safety, management, and quality in the food industry.

FREMONT, CA: Retailers and manufacturers are doing their best to track food for optimizing transparency in the supply chain. Many popular brands have integrated blockchain technology to highlight the requirement for product and supply transparency that communicates quality and safety.

Looking after the supply chain

Supermarkets and manufacturers are trying to minimize the intricacy and potential confusion of supply chains through QR codes and product labeling. Carrefour and Nestle have collaborated to use blockchain for sharing product information on its Mousline instant mashed potato.

Using blockchain-based applications also minimizes the time needed to source detailed information on suppliers and communicate this back to the customers. Blockchain is now being seen as the solution to combating the prevalence of contaminated food entering the supply chain. It offers reassurance to customers, simultaneously warning both manufacturers and retailers to food identified as unsafe.

Transparency in agriculture

In recent years, organizations are incorporating the blockchain technology's capabilities to create concepts that particularly appeal to the B2C organic agriculture sector.

The agriculture industry is also making use of blockchain for maximizing its potential in logistics, transport, and transactional costs. It is achieving this by enhancing its shipping processes and inventory tracking and minimizing associated transaction expenses by avoiding the requirement for third-party involvement from banks.

Brand transparency

Gathering of information is a significant component in ensuring food quality and safety in the present day's market. Shoppers search for origin and food production techniques to comprehend the complete food supply chain. Blockchain means that consumers can have access to labeling information on smartphones. It also empowers supermarkets to have access to a massive amount of data that go through the supply chain. The technology gives in-depth tracking that makes sure food quality will be possible.

The blockchain-housed platform contains all processors, member records, producers, operators, and product information to make sure that traceability takes place throughout the supply chain. Product in-store have QR codes on their labels to give direct and detailed information to the shopper.

This multi-interface technology possesses an inventory management tool for providing local authorities access to farm-issued certificates, a B2C application to allow customers to access information on the life cycle of the product from selection to store placement, and a B2B application that logistic chain-based operators utilize to offer product traceability data.

Seeing ahead, brands will be putting more effort into demonstrating blockchain benefits to manufacturers, retailers, and shoppers while emphasizing the technology's potential to lessen the expenses, increase simplicity and decrease the amount of time spent looking for information.

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