blockchain

Blockchain Technology and the Food Industry

One of the foremost food industry goals is to bring transparency throughout the supply chain, to reduce food frauds and enhance food safety. For example, extensive use of pesticides in agriculture has led to the demand for comprehensive and sensitive analytical techniques. To ensure consumer safety many countries have set maximum residue limits (MRL), which are the highest level of pesticide residues legally tolerated in food. To accomplish this a transparent system to manage the process is needed. Blockchain can be part of that process

Blockchain – the next disruption in the food processing technology world.

“Blockchain technology is most simply defined as a decentralized, distributed ledger that records the provenance of a digital asset.” – Built in. Or in other words, it’s a digital distributed ledger, maintained by a network of multiple computing machines. It stores data in the form of blocks that are cryptographically secured and immutable.

When blockchain is integrated with the latest technologies for data capturing, a huge potential in the food industry emerges. For example, combining blockchain and the Internet of Things (IoT) a food industry revolution can transpire. As discussed in my previous article: Bluetooth and Wireless IIoT – A food Processing Reality?, IoT solutions link the physical and digital worlds, capturing data like temperature and humidity during transportation or storage of products. Adding blockchain to provide a secure and constant platform where this data can be stored and accessed by every participant in the supply chain is paramount.

In a 2019 report, Juniper Research surmised that blockchain used with IoT sensors and trackers will have several advantages. These are:

✓ It will streamline the supply chain, reducing retailers’ costs
✓ It offers simpler regulatory compliance
✓ It will enhance and expedite the food recall process
✓ It will enable $31 billion in food fraud savings globally by 2024

There are several IT giants who have made different blockchain platforms for the food industry. IBM Food Trust as an example. Combined with food processing digital data accumulation products like what Coolearth Software offers makes for a very powerful transparency solution.

Conclusion

Blockchain is a very promising technology with multifaceted benefits. If used along with the IoT, it can establish a transparent supply chain of food, reduce food fraud and build consumer trust. Let us know if you would like to learn more.

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