Blockchain - A ground-breaking technology, after the application in cryptocurrency and bitcoins, is now started refining every industry. The list of industries that are boosted-up by the adaptation of Blockchain Technology involves Health Care, Supply Chain, Insurance, Education and so on.
Here we are going to explore the exertion of Blockchain Technology in "Food and Agriculture Supply Chain ".
Issues in the Food Supply Chain
Lack of Traceability
The high cost of Supply Chain
Fraudulence in Food
Illegal Production
Inability to maintain Quality and Safety
Blockchain in Food Supply Chain
Now, let us deeply look into how this blockchain technology would be implemented in the food supply chain.
Storing the information on food crops by farmers
Adding food processing details using food processors
Bidding for processed products by Wholesalers
Safety of Food can be traced by End-consumers
Benefits of Blockchain in Food Supply Chain
Easy to Trace
Safety of Food Products
Quick and Safe Transactions
Efficiency
Reduced Cost
Real-Time Application of Blockchain in Food Industry
There are some food-related industries that adopted blockchain technology for their process of manufacturing of food items. Some of the notable investors of blockchain in food supply chain involve:
ChainTrade
Farm2Kitchen
Owlchain
IBM Food Trust
Avenues-GT and more.
Explore here more about the Real-Time Application of Blockchain in Food Industry !