Blockchain In Food Industry www.bitdeal.net
Introduction 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. Supply Chain, being a vivacity of each and every industry, plays an important role in maintaining the whole process obvious.
Agriculture and Food Supply Chain One of the major fields that are eradicating from society is "Agriculture". It is a process of producing food and other desired products by the process of cultivation. Food Supply Chain is the system that comprises of process of managing the whole process of food from manufacturing till the consumption of the food. It is a wholely a long and tedious process.
Issues in the Food Supply Chain Every supply chain is a tedious process and faces many problems. Here let us look at some major problems that occur in "Food Supply Chain". 1. Lack of Traceability 2. The high cost of Supply Chain 3. Fraudulence in Food 4. Illegal Production 5. 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. 1. Storing the information on food crops by farmers 2. Adding food processing details using food processors 3. Bidding for processed products by Wholesalers 4. Safety of Food can be traced by End-consumers
Benefits of Blockchain in Food Supply Chain 1. Easy to Trace 2. Safety of Food Products 3. Quick and Safe Transactions 4. Efficiency 5. Reduced Cost Explore more benefits of Blockchain in Food Supply Chain here !!
Future Scope Blockchain is a vibrant technology that cherishes every industry to the transformation of the next level. The most notable application of blockchain technology in the food supply chain and many food industries have started implementing it. Some of the companies such as Skuchain are building blockchain-based inventory financing models. This would surely help the traceability of food items even by end-users which inturns increases trust. In future, there will be more food industries in the list that uses blockchain technology for their supply chain management.