How Blockchain can improve FOOD TRACEABILITY
As a food manufacturer, if you have not got to grips with the blockchain technology, then it’s time to bring yourself up to date. Blockchain is the underlying enabling technology developed for the cryptocurrency, Bitcoin. But blockchain is way beyond that, as there is a growing buzz around blockchain and its power to transform the way business is done. The blockchain was initially adopted for its financial advantages, but its core attributes mean that it has a remarkable potential to improve food traceability solutions.
The Blockchain Technology
The Blockchain technology is a way of sharing and storing information across a network of users in an open virtual space. It allows users to look at all transactions simultaneously and in real time. The World Economic Forum defines blockchain as a “shared, programmable, cryptographically secure and therefore trusted ledger which no single user controls and which can be inspected by anyone.”