Track & Trace
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Yang Braxter Track and Trace in organic certified food
Ethical standards in the food supply chain is a pressing challenge that food businesses have to face at a global scale presently. Cases like Italy’s Guardia di Finanz (GDF) involved in a fraudulent wine case using identical labelling, wrappers, bottle caps, and wooden craters raise serious concerns regarding health hazards following adulterated food consumption. Things get messier when you have to trace animal meat where you are not sure of the quality of the produce. That said, the need for a reliable tracking and tracing mechanism arises that cannot be tampered or influenced by any means. But has technology evolved to that level where we can deal with this unavoidable challenge.
What Could Help Resolve This?
Decentralized Ledger Technology (DLT) powered by blockchain mitigates supplychain bottlenecks by establishing a trustless, provenance based tracking system that cannot be tampered due to its decentralized immutable nature.
Businesses in the food verticals have been enthusiastic to use blockchain technology since it can help simplify product counterfeiting and adulteration by using provenance.
With the help of product provenance, the farm to fork food movement can be traced backward from the fork to the farm. This significantly reduces health hazards caused by consuming adulterated foods.
As a result of the applicability of blockchain in supply-chain, the use cases of blockchain have broadened over the years, stimulating blockchain growth from US$754 million in 2017 to anticipated US$11.7 billion by 2022 at a CAGR of 73.2%.
Why Are food companies crazy to adopt blockchain technology in their Supply Chain Management?
Blockchain or DLT paves the way to track the food easily through an iOT powered blockchain system. The QR tracing scan system unravels food movement or travel-journey from the farm to fork. All the necessary data are inputted into the blockchain ledger by the participating businesses. In this way, consumers can easily find out the quality and authenticity of the produce.
Better Supply Side Infrastructure
All the stakeholders in the food supply chain are interconnected with each other via their digital footprints. They need to upload certificates and the food movement gets reviewed on-chain by all participating networks. Smart-contract powered systems flush out unworthy or false players from the network establishing better ethical standards in the food supply delivery.
Adhering to Regulations
With the help of blockchain technology, all the government regulations can be encoded into the smart-contract so that the system can automatically flush-out unethical stakeholders on the network. Since, any mal-intentions can be traced back via the provenance mechanism, it makes food suppliers much more answerable to the masses consuming their produce.
Securing Transaction Path
Blockchain technology simplifies that since every entry on the ledger has to be recorded by consensus. As everything is linked via iOTs, fraudulent players find it hard to rig the path midways. In this way, the supply-chain can be bolstered with trustless, immutable, and decentralized eco-system working via a consensus mechanism.