What are the Benefits of Blockchain-based Food Supply?

Knock on the door? Food is waiting for you. Know and track the journey of food items, In other industries blockchain in the food supply chain enhances food safety by making the supply chain operations more traceable, sustainable, and transparent.

Blockchain-based Food supply chain?
Quite not simple to bring food from farming lands, it involves a multi-step process such as producing, storing, processing, packaging, transporting, distributing, selling, and consuming food products. The food supply chain involves different stakeholders, including farmers, processors, distributors, wholesalers, retailers, and consumers, as well as government agencies. Moreover, it also includes organizations that regulate and monitor the safety and standard of the food supply chain and handling chain of actions and consequential transactions, However, blockchain is extremely secure, acts as a transparent real-time ledger for all the stakeholders has become a major choice and verticals like the food industry enjoy its benefits in maintaining the supply chain of the food system.

How Useful is Blockchain in the Food Industry? – Example 

Consider a dairy company using blockchain to track the provenance of milk products, including the feed given to cows. Not a one-step process to get  Milk products at your doorstep. Like to know more about the processing methods used ?? Farmers manually record the litres of milk yielded, the date and time of milk collection, the quantity, and the quality of the milk. Basically, technology assigns a unique digital identity on the blockchain for each participant from the farmers to the retailers. As the milk passes through the supply chain, each participant would record their actions on the blockchain. Each record would be time-stamped and linked to the previous record on the blockchain, creating an immutable and transparent record of the entire food supply chain (Dairy) This would allow all participants in the supply chain to have access to the same information, reducing the need for intermediaries and increasing trust. Additionally, integrating the blockchain in the food supply chain helps to track and trace the milk from the farm to the retailer. Finally can implement a Food supply chain on a blockchain in web and mobile applications to track the where is the food and transparency of products in view of owners, stakeholders, and consumers.

Benefits of Blockchain-based Food Supply Chain

1. Ease of conventional ways of doing business with the adoption of blockchain technology, (buy, sell, resell) for each buying/ selling/reselling you have transaction. Blockchain will allow you to get rid of fraudulent transactions and cut down the middleman payment.
2. Blockchain in the food industry ensures food safety by making the system robust in the food supply chain with improved transparency.
3. The farmers benefit from the implication of a blockchain-based food supply chain. Each participant in the supply chain, from the raw material suppliers to the retailers, can create a digital identity on the blockchain network. It can record the details of the products they supply, including the date of manufacture, quantity, and location.  It offers more value and better selling chances by connecting farmers directly to the consumers without any intervention from the intermediaries.
4. Blockchain in the food supply chain can enable end-to-end traceability, help to improve food quality, reduce waste, and increase consumer trust. In-depth each participant in the food supply chain records information about their products on a blockchain ledger.  
5. Smart contracts help to automate certain processes, such as payments or quality control checks, based on the data recorded on the blockchain. With the adoption of blockchain technology, it is transparent to know where the food comes from, how it is produced, and how it is transported and stored. This can help identify and address issues related to food safety, quality, and sustainability.
6. Smart Contracts create the terms of the agreement between buyer and seller being directly written into lines of code. Which automates various supply chain processes such as payment, quality checks, and verification of compliance with regulatory requirements. With the smart contract in blockchain, all participants in the food supply chain can record and monitor data on food quality and safety, including information on the source of the food. Blockchain in the Food Supply Chain allows stakeholders to identify potential food safety issues early and take preventive measures.
7. Blockchain can help to optimize inventory management by providing real-time tracking of food products throughout the supply chain to deliver on-time the food/products.

Overall, blockchain technology in the food supply chain can help to build trust and improve efficiency in the food supply chain via web and mobile apps,  leading to safer and more sustainable food systems. Do you want to know if blockchains in food supply suit your food business? Get in touch with BSEtec for further details.

Consider a dairy company using blockchain to track the provenance of milk products, including the feed given to cows. Not a one-step process to get  Milk products at your doorstep. Like to know more about the processing methods used ?? Farmers manually record the litres of milk yielded, the date and time of milk collection, the quantity, and the quality of the milk. Basically, technology assigns a unique digital identity on the blockchain for each participant from the farmers to the retailers. As the milk passes through the supply chain, each participant would record their actions on the blockchain. Each record would be time-stamped and linked to the previous record on the blockchain, creating an immutable and transparent record of the entire food supply chain (Dairy) This would allow all participants in the supply chain to have access to the same information, reducing the need for intermediaries and increasing trust. Additionally, integrating the blockchain in the food supply chain helps to track and trace the milk from the farm to the retailer. Finally can implement a Food supply chain on a blockchain in web and mobile applications to track the where is the food and transparency of products in view of owners, stakeholders, and consumers.

Benefits of Blockchain-based Food Supply Chain

1. Ease of conventional ways of doing business with the adoption of blockchain technology, (buy, sell, resell) for each buying/ selling/reselling you have transaction. Blockchain will allow you to get rid of fraudulent transactions and cut down the middleman payment.
2. Blockchain in the food industry ensures food safety by making the system robust in the food supply chain with improved transparency.
3. The farmers benefit from the implication of a blockchain-based food supply chain. Each participant in the supply chain, from the raw material suppliers to the retailers, can create a digital identity on the blockchain network. It can record the details of the products they supply, including the date of manufacture, quantity, and location.  It offers more value and better selling chances by connecting farmers directly to the consumers without any intervention from the intermediaries.
4. Blockchain in the food supply chain can enable end-to-end traceability, help to improve food quality, reduce waste, and increase consumer trust. In-depth each participant in the food supply chain records information about their products on a blockchain ledger.  
5. Smart contracts help to automate certain processes, such as payments or quality control checks, based on the data recorded on the blockchain. With the adoption of blockchain technology, it is transparent to know where the food comes from, how it is produced, and how it is transported and stored. This can help identify and address issues related to food safety, quality, and sustainability.
6. Smart Contracts create the terms of the agreement between buyer and seller being directly written into lines of code. Which automates various supply chain processes such as payment, quality checks, and verification of compliance with regulatory requirements. With the smart contract in blockchain, all participants in the food supply chain can record and monitor data on food quality and safety, including information on the source of the food. Blockchain in the Food Supply Chain allows stakeholders to identify potential food safety issues early and take preventive measures.
7. Blockchain can help to optimize inventory management by providing real-time tracking of food products throughout the supply chain to deliver on-time the food/products.

Overall, blockchain technology in the food supply chain can help to build trust and improve efficiency in the food supply chain via web and mobile apps,  leading to safer and more sustainable food systems. Do you want to know if blockchains in food supply suit your food business? Get in touch with BSEtec for further details.

Did you find this article useful? Let us know by leaving a comment below or join us on Twitter and Facebook.