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Blockchain Technology & Food Industry

20 percent of the food produced in the EU is lost or wasted. The Farm to Fork Strategy, an initiative of the European Commission, shares a series of actions to enable the EU's transition to a sustainable food system [...]

date:  30/09/2022

Have you already researched who are the stakeholders who have already started a green, responsible, and environmentally friendly approach thanks to blockchain solutions?

In fact, Blockchain technology can allow tracking and access to every transaction in the supply chain process in real-time. Some companies already have it in the pipeline, trying to rethink the process of manufacturing food products. For example, ChefChain offer a food industry that uses blockchain for all (producers, growers, chefs...) allowing equal access to it. Other actors like OpenFoodChain connect consumers from farm to fork, proposing a product story, managing ESG risks and creating more efficient supply chains.

In the retail sector we can find platforms that aim at helping food companies to ensure traceability and to connect actors (distributors, suppliers…) via immutable and shared records of food system data. We have already examples of retail corporations who have started to integrate Blockchain technology into several food supply chain using food traceability applications. Even some years ago, a group of global food giants joint in an effort to reduce food contamination by using blockchain. Enabling global food businesses to use its blockchain network to trace the source of contaminated produce. A distributed ledger technology, which maintains a digital record of transactions rather than a physical one, enabling food suppliers to source information about the origin, condition and movement of food, and to trace contaminated produce in mere seconds.

Actors of the food sector already use blockchain to enable food traceability through applications, improving the production chain and combating environmental consequences on the one hand, and acting on consumer confidence by verifying food fraud systems on the other. They can even identify, and classify product waste within supply chains.