3 Future Applications of blockchain technology in the food industry

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Globalization has complicated the food system, with manifold suppliers and companies engaged. It has created a challenge in maintaining food security even where laws and policies are there. The recurrent occurrences of food scandals have dropped consumers’ trust in the food industry. Food safety problems emerge from operational mistakes, encompassing contamination, undeclared ingredient, mislabeling, biological causes, and more. One thing that can be helpful here is choosing the best blockchain platform and using it.

The point is all the stakeholders must share the responsibility of food security, encompassing food producers, related governments, food retailers, and consumers/customers. Supply chain management has been critical in addressing food uncertainty and contributing to food recalls and public health. Make it all possible using technological innovations for an effective and efficient traceability system. The post will share with you applications of blockchain technology that you can use in the food industry.

Tracking Food Supply Chains

Blockchain technology offers traceability, security, and even decentralization when dealing with data around food. Blockchain has the excellent feature of immutability. Nobody can alter the transaction or hide it because there is tracking, recording, and displaying of every change to the entire network of individuals accessing the information.
It even stores data in a decentralized way. It denotes that there is no single server where data gets kept. Instead, multiple copies of the data are stored on different nodes (computers) where all the participants or members can access and even view it. Blockchain technology forms such a radically transparent environment that the requirement for trust is eradicated, and there is no need for a central authority to mediate between different parties.

Confirming Food Safety

Just imagine there is an instance where a retailer could see and even authenticate with a hundred per cent certainty where every food item was grown, managed, processed, stored, and inspected. Well, blockchain technology has the power to make such a thing a reality. In the domain of blockchain, there is the absence of gaps in the history, location, and even status of a specific food item or product. Instead, you can witness the entire picture.
For example, suppose the retailer finds out about a potentially deadly issue with a fruit. In that case, all the blockchain network participants can see the whole history of that fruit to find the origin of the problem. And they can recall the fruit from that particular farm or batch rapidly. Hence, it ensures the safety of the food products.

Averts Price Coercion

Blockchain technology applications in the food sector reduce transaction charges and mediators or intermediaries. Accordingly, intermediates would be less likely to gather more money from farmers or manufacturers. So, food producers can easily reap better and significant economic benefits. Additionally, the consumer receives premium quality products delivered by brands having a good reputation at reasonable costs.

The Bottom Line

By leveraging blockchain technology, you can bring transparency and ensure accountability and trust to food supply chains. Securing document with qr codes easy and effective; in the same way, ensuring food security with blockchain is a cake walk too. Blockchain technology allows companies in the food supply chain to communicate transparently to consumers and regulators. Know more how you can introduce blockchain application in your food organization at ProofEasy.