Start disrupting the fruit supply chains right away with the embracement of fruit supply chain blockchain development solutions of Tracefood!
Even if you are new to the world of digital currencies, you might have heard about the term ‘blockchain’. It is one such potential cum advanced technology that has been coming up to beat all other technologies available as of now in the industry. Particularly speaking for the food sector, blockchain brings a lot of advantages that we are unable to imagine. By the way, in this blog, we are going to discuss how actually blockchain contributes to the growth of fruit supply chains….
The blockchain serves as the technology that is going to shape up the future of fruit supply chains. It is a collection of computer network nodes that help manage the transfer of digital assets and keep storing the data appropriate to those transfers.
Key components of blockchain tech:
- Distributed public ledger: It keeps the transactional data records safe for the network participants to have access in the future; Most of the technologies used by the traditional business networks today have been facing some duplication issues and this could be sorted outright with the implementation of blockchain, as it records the data only once and it cannot be done anymore.
- Smart contracts: Automated smart contracts of blockchain are very much vital when it comes to speeding up the transactions. They are nothing but a specific set of rules defined for the transactions to be carried out in a smoother cum faster manner.
- Immutable data records: The transactional information cannot be reverted for any reason, once it gets recorded on the shared public ledger, which is open to everyone in the network; we can either perform addition or deletion to the data, but never ever can alter it or make changes.
How blockchain makes it unique among its technology counterparts?
Blockchain with its nature of decentralization sets all the conventional record-keeping strategies apart, thus occupying a distinct position in the field of online record-keeping. Its permission less feature helps the users in making permissionless business transactions of their choice thus reducing the dependency of the overall business system. This in turn facilitates bringing the utmost level of trust and transparency into the system. This is how blockchain differs from traditional technologies in terms of prospecting a business.
Blockchain in fruit supply chains:
Blockchain finds its significance in the food industry right with bringing traceable supply chains. Yes! out of the various industries that get transformed by blockchain technology, food sector reaps the most. This implies that the food industry has been influenced the most in the recent years with blockchain intrusion and it is no wonder that the fruit supply chains are now set to have an ultimate range of security altogether with an improved level of efficiency with blockchain. So, what actually is the role of blockchain in the fruit supply chains?
It helps us trace fruits for how cum they have grown in the fields, how they get picked, shipped, and supplied for processing and consumption. Simultaneously, it keeps track of the security and protection of the overall supply chain network information as well with no deviations.
How blockchain collaborates with fruit supply?
Fruits are one of the rich sources of energy that we need in our everyday diet. The increase in their demand in the market often causes shrinkage in the supply. This is the primary challenge that the fruit supply chain industry is facing right now. Yet, the shrinkage also occurs with unnecessary fruit spoilage or loss. Hence it is a foremost thing that we need to have a focus on the supply and demand cycles of fruits to a greater extent as much as possible.
In order to keep balancing the supply and demand sides, we need to keep managing the data properly so as to address the above said challenges with ease. Here is where the blockchain for the fruit industry comes in with a greater potential to innovate the fruit supply chain sector.
According to a recent report, the WHO (World Health Organization) stated that the fruit industry is most probably under a major threat, which is mainly because of the issues like contamination and counterfeiting. The rise in the utilization of synthetic fertilizers today even worsens the causes of threats and here is where we need a technology primer like blockchain that helps us evacuate all the sources of threats in an efficient way, thus making the supply chains come up with better performance ever.
What are all the benefits brought by blockchain for the fruit industry?
- The supply chain information stored in the blockchain ledger is unalterable; hence there are no possibilities for anyone to change the existing data thus resulting in bringing up a scam-free system.
- Blockchain allows only the trusted data to get recorded over its blocks, thus making the system ethical.
- Blockchain in fruit supply chains never ever encourage third-party interferences, thus facilitating cost-reduction in the system.
- The data or information records stored on the public ledger of blockchain are highly secure and this is made happen via the protected public and private key cryptographic algorithms.
- The information records are always open in the public blockchain ledger thus making each and every participant get access to them; this ensures transparency in the system.
- The blockchain transactions are recorded in some millions and millions of network nodes and this makes them get rid of data losses.
- Though the blockchain transactions are transparent, there are no chances for hacks to happen in the system; only the authorized users are permitted to get into the transactional details.
Tracefood, as a leading food technology solutions provider in the industry, delivers fruit supply chain blockchain development services to the global food entrepreneurs.