Blockchain’s ability to record date in a transparent, incorruptible way has opened doors for many industries, including for food manufacturing – specifically for enhancing food safety and traceability in the supply chain. As part of its new monthly multimedia feature, Asia’s Food Future: Industry 4.0, Food Navigator Asia spoke to blockchain technology provider Foodchain, Singapore food firm SunMoon and e-commerce giant JD.com, on some of the key benefits behind blockchain technology for the food industry.
The upcoming FIA Food for the Future Summit, taking place on 25 April 2019, will also be exploring the use of blockchain technology and other trends around food safety. Register now.
Blockchain has its beginnings in Bitcoin, a ‘peer-to-peer’ version of electronic cash. The technology was created 10 years ago in 2009 or so to support Bitcoin transaction systems by its founder, a mysterious persona known as Satoshi Nakamoto whose identity remains unknown.
Read more at https://www.foodnavigator-asia.com/Article/2019/03/20/Trace-what-matters-Is-Blockchain-the-solution-to-food-safety-quality-and-brand-reputation.
“[Blockchain is essentially] a distributed database that stores data across a network of computers that share information peer-to-peer without the need for a central authority,” explained Alex Vitale, Project Manager at Foodchain, a blockchain technology provider that specialises in food industry applications.
“[Its] digital infrastructure consists of a network made up of ‘nodes’ that are interconnected. Each node is committed to the network’s record keeping by storing an identical copy of the ledger book.
“[This ensures] that data is recorded in a transparent, [incorruptible] way and [is] secured by the use of encryption technology.”