How Blockchain Is Resolving The Challenges Of Food Supply Chain? Have you ever tried to find from where the food comes which you eat? Beside the shop where you go for shopping, there is another chain of various interlinked elements that work behind in delivering these products. It is a connected chain called Supply Chain. We all buy the vegetables from the grocery store but we don’t know the products that we buy are safe or not. Whether it’s about vegetables or food items, we all want to buy the best quality items that are not adulterated. In the current scenario, it is impossible for consumers to trace the information related to the origin of food items. A food supply chain is currently troubling with various challenges like safety recalls, food fraud, traceability, and inefficient supply chain. But, the inclusion of distributed ledger technology, blockchain can benefit in improving food safety concerns by connecting the multiple stakeholders at one point like farmers, retailers, processors, and consumers. Everyone who is involved in this network can access the transparent and immutable view of the transaction history. The food industry is now including blockchain to make their supply chain process transparent and efficient. It has great potential to add an extra layer of security for the food industry. Let’s have a look how blockchain supported supply chain can benefit the Food industry in different ways:• Transparency Blockchain can help in bringing the transparency in supply chain by capturing every data in each step and make it visible to everyone within the network. From
production to sale of food product, everything will be captured and recorded in the blockchain that helps in reducing any kind of food frauds or food recalls. • Efficiency It will boost the efficiency of food supply chain by improving the way of food is tracked, transported and sold. As every record is digitally maintained so it helps in overcome the inaccuracies caused due to traditional paper-based records. In case of food recall or investigation, the process could be done without any hassle because blockchain will provide end-to-end traceability for it. • Food safety Blockchain can make the whole supply chain process safe while cutting down its costs. All the records and information are well maintained in the blockchain so it will automatically reduce the chance of contamination incidents. When the blockchain is fully implemented with the food supply chain, then it will make the following things possible:• • • •
The consumer will able to check whether the product is truly organic or not Sources of contamination will be easily identified Payments to a vendor can be done automatically Movements of materials done through the supply chain are frictionless
But, for this, it is important to understand the blockchain and its use in the industry. If you also want to implement a supply chain for boosting your business then Group50 can help you by providing excellent consulting services on blockchain. Group50 is a consulting service supported by the team of subject matter experts in productivity, cost takeout, supply chain, and other supporting technologies. They have developed the integrated Blockchain and IoT plug and play solution named as Scioebc™. So, if you want to know more about Blockchain Food supply Chain for your business growth then join the Group50 workshop for it.
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