How Blockchain Can Regulate Global Food Distribution
The way food is distributed throughout the world as we know it today is reliant on the harmonious exchange of information. For food to be identified and transported throughout national and domestic supply chains, individual members of the chain have to cooperate by sharing information.
As an example, let’s consider what happens when you purchase produce from your local supermarket. As a consumer, you rely on the supermarket to have correct information about how fresh the product you’re purchasing is. The supermarket, on the other hand, has to rely on their supplier for information about its freshness, and the food supplier relies on information passed down the chain from the food producer.
For the most part, the system works as intended. There are, however, many opportunities to streamline the system and reduce cost, waste and redundancy.
Improving Food Distribution With Blockchain Technology
Blockchain is an emerging technology that has the opportunity to vastly improve the way that information is exchanged, and could subsequently have a huge impact on global food distribution.
In the context of food safety, practical applications of blockchain technology involve creating a shared and open database for the storage and access of information. Blockchain works as a public ledger that allows for information to be stored and easily verified by both internal and external systems.
If blockchain technology were applied to our earlier example of buying food from your local supermarket, the process would be the same for you as a consumer, but vastly different from the point of view of the supermarket.
The supermarket would use a blockchain-based system to access stored information as a method of verifying the freshness of their sold products. Instead of searching for the required information from individual parties in the supply chain, they could simply access the information directly.
This information would be verified by each party in the supply chain, who would additionally benefit from redundancies avoided thanks to information sharing.
An improved system of verifying the freshness of food could have an astronomical effect on food regulation. Blockchain technology could pave the way for quicker identification of food safety and allow for food to move quicker throughout the supply chain.
Increasing Food Supply to the Homeless and Foreign Aid with Blockchain
The impact of this information sharing model could also have a huge impact on supplying food to the homeless and foreign aid.
In the U.S., one third of all food produced is thrown away, and a large portion of discarded food is perfectly edible. Food wastage occurs for a few reasons, but one of the major causes is uncertainty about food freshness.
Often ‘use by’ and ‘best before’ dates can be widely incorrect, and food can be consumed long after the date of expiration on the label.
If blockchain technology were used to keep more up-to-date and accurate information about food safety and freshness, supermarkets and food distributors could limit the amount of food that’s discarded unnecessarily, and could donate or continue to sell the safe-to-eat products.
This is just the tip of the iceberg when it comes to ways in which blockchain technology could be an invaluable tool for improving food regulation and the food distribution industry. As major supply chains continue to adopt blockchain-based solutions, it seems clear that the future of global food distribution will be shaped by the invention of blockchain technology.
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If you’re looking to implement blockchain technology into your organization’s operations, feel free to contact eXeBlock Technology Inc. to learn about how our custom blockchain development services could benefit your business.
By: Jack Filiba
Originally published at www.exeblock.com.