What Can Blockchain Really Do for the Food Industry?

Blockchain was initially coined as part of Bitcoin-the cryptocurrency. However, today the technology behind cryptocurrency is widely used for various industry spaces to execute their operations. Be it document verification, music, and entertainment, automobiles, telecommunications or any other. Hardly there exists an industrial space, that haven’t heard about or tasted the essence of blockchain technology.

Indeed, in 2019, blockchain has been penetrating deeply into food industry at a quickened pace. And it is expected that by 2025, about 20% of the top 10 global merchants will deploy blockchain in their food business.

So what makes blockchain technology so popular among the industry giants?

It is none other than the distributed ledger technology of blockchain. The shared, distributed ledger of transactions over decentralized peer-to-peer network, makes blockchain technology highly appealing to the mass. Blockchain is certified to be an ingenious invention that can bring transformative changes in the food industry space.

With deployment of blockchain in the operational circle, there instantly establishes a framework of trust and transparency and food industry is no exception to greatly benefit from it. For instance, the consumer can easily trace the source of their product, grocery stores could identify the immediate replenishes, shippers can easily identify if the truck is sufficiently filled with stocks and many more. If one sits to count the blockchain benefits in food industry, it is nowhere to reach the finish line. Because there are boundless advantages the distributed ledger technology can offer towards the food industry.

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Originally published at What Can Blockchain Really Do for the Food Industry?