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Food Business Review | Monday, January 13, 2020
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Whether it is Gratitude, Christmas, or any event, the utmost importance is given to the food. Foods bought online or from grocery shops have their own story from where there came and their journey to the dining table. This journey will have a massive impact on human safety. An example of the effect is the recent E. Coli Outbreak, where tons of prepackaged romaine lettuce was distributed nationwide, which led to causing health issues for many.
Before the source was traced, the outbreak had sparked 36 states with 200 diseased cases along with the lives of five people, according to the Centers for Disease Control AND Prevention. Moreover, the conventional process of identifying a food roadmap through the workforce is more time-consuming and error-prone.
The approach of blockchain technology with its innovative shared ledger technology helps solve complex problems and store digital transaction records within the distributed framework. Its distributive, transparent, and flexible properties help businesses save time and cost, all with high-end security.
For example, mark Parzygnat, program director at IBM blockchain, has predicted that the E. coli outbreak could have been easily identified more quickly with blockchain and saved many lives. Integrating blockchain technology with food chain companies can easily track and trace the origin of food products at a faster rate. Furthermore, blockchain is a platform for customers to capture data about product history.
Many startups are now attracted to the deployment of blockchain technology in their potential food applications. ripe.io, a San Francisco-based food distribution company, recently raised $2.4 million to deploy blockchain technology in their food supply chain and enable data transparency. Furthermore, the company wants to be digitally linked with growers, retailers, and labs.
Environmental factors like humidity and temperature variation also impact food quality. Implementing sensors in the storage regions and transportation catch dynamic food condition data and forward it to a blockchain monitoring system for data analysis to keep the standard environment condition suitable for the food chain. With sensors continuously updating the environmental condition data to the blockchain, growers and retailers can effectively determine the time and place conditions change and information regarding spoilage issues.
Blockchain technology also helps truck drivers with new payment models. Drivers always expect payment upon delivery but sometimes fail to gather due to unavailability. This restriction can be reduced through the blockchain transaction process. Even though blockchain technology is well known for its bitcoin transaction, its advantages have created boundless opportunities for future applications to enhance business efficiency.
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