Blockchain can improve the transparency of Supply Chain in the Food Industry
Blockchain has become a blessing in disguise for the key industries in the year 2018. This year experiences incredible changes due to the implementation of the blockchain technology in the infrastructure of the primary industries. Recently the food industry faced quite a few fraud cases, coming into the spotlight and shattering the trust of millions all over the world.
California-based blockchain technology company HashCash is taking the food safety measures quite seriously and is planning to incorporate blockchain in the field of food safety. HashCash is planning to implement the unique features of blockchain in the supply chain process of the food sector which will be extremely helpful in the journey of the food products from the farm to the store shelves. The team of HashCash is thinking of designing a creative blockchain based platform which will offer an instant solution to the critical concerns related to food security standards.
This blockchain product and service provider is aiming to create a common, transparent and secured blockchain based platform which can facilitate managing of complex supply chain activities of the food industry, making traceability of each step possible.
According to Raj Chowdhury, Managing Director at HashCash,
“HashCash is planning to work jointly with food suppliers to implement blockchain technology in the global food supply chain. Blockchain offers an ultimate solution to the global food companies to improve the safety standards by instant tracking of food items within the international food supply chain.
He further says, “Through Blockchain a overall transparency in the supply chain of the food industry can be achieved. A strong trusted network can be created by integrating this technology in the food industry which will enhance the confidence of the people on the food quality.”
This technology is a boon to the food producers and suppliers all around the globe. It is a platform through which individual or group of food items can be tracked promptly. This eliminates the unnecessary waste of time and money on recalls in case of food contaminations and damage. Through this technology, we can prevent millions of people from falling ill through food poisoning as shipments can be tracked down and recalled before it reaches the consumers.
Food safety is constantly under threats in the recent times and it’s about time we win it back by using Blockchain. Being developed as a decentralized ledger format, blockchain offers permanent data storage of every food shipment on a real-time basis from the place of production to the final store shelves. Blockchain also provides absolute transparency of the food supply chain by maintaining privacy and easy tracking of food items globally.