Blockchain in Food industry: Every product or service that a customer gets access to involves a lot of processes and there is a great deal of manpower behind it. This chain of components is what you call a supply chain. Irrespective of the nature of your business, an efficient supply chain management is mandatory to combat the rise in demand. Blockchain incorporation will definitely help you with efficacious supply chain management.
The blockchain technology finds a massive scope in both fresh produce and frozen food industry and comes to shatter all the limitations of the conventional food supply chain. Fruit supply chain blockchain indeed contributes to a greater good of the industry at large. Let us see how blockchain benefits the supplychain industry…
1.Traceability
Blockchain implementation makes it a childsplay to track the fruits and the meat products down to their origin within a second! The fruit supply chain blockchain comes with supreme transparency that the players of the fruit supply network including the growers, distributors, retailers and end customers can check the quality of fruits at any given point of time. The digital ledger makes every data entered immutable with its decentralized mechanism making every edit in the blockchain viewed by every participant in the supply chain.
2.Supply chain management
The Blockchain-powered sensors keep track of the fruit supply chain data constantly making sure quality management is the top priority at every phase of the supply chain right from the origin to the table. This way, blockchain builds complete trust between various players of the supply chain who are in no way familiar with each other.
Blockchain in Food industry eliminates the doubts in the conventional fruit supply system by leaving no space for the slightest dilemma about the uprightness of the product. It also gives maximum profitability to all the partners of the Fruit Supply chain blockchain, Sea food Supply chain blockchain and Meat Supply chain Blockchain in curtailing the wastage of fresh produce to the maximum.
3.Data transparency
Companies that buy or invest in seafood products have an inherent interest in having information about the product before they commit to a purchase. Here in Sea food Supply chain blockchain and Meat Supply chain Blockchain can include everything from where the fishing or the slaughter has taken place, preservatives levels in food, which would affect flavor, to cattle health information, which can help creating trust in the product.
4.Easy Recall
Blockchain helps companies and retailers to quickly track unsafe products back to their source and see where the process went wrong and where else the products have been distributed. This allows recalls in no time and can prevent the spreading of any illness as well as reducing the cost of product recalls. Information being collected and the stakeholder groups involved vary based on the needs of the groups behind each initiative.
5.Seamless Payments
Smallscale farmers around the world struggle to access funding through traditional financial models, like loans. Lack of significant credit histories, land ownership documentation, and other issues make it difficult to access bank loans, so small farmers are often forced to borrow funds from money lenders, at significantly higher rates if the option is even available. Agricultural entrepreneurs have also started using blockchain to create investment tokens and raise funds for their agricultural businesses. The traceability allows every participant to know how much everyone gets out of the sale.
Tracefood specializes in almost all the blockchain in food industry services boosting the overall efficiency of the subsequent supply network. Irrespective of the size of the business Tracefood aim to provide you with the best quality service at a reasonable cost.