- Blockchain digital ledger technology can make complex food supply chains more transparent, while delivering a range of benefits for food producers, distributors, retailers, and consumers.
- However, these are early days for blockchain as a supply chain management technology, with limitations including the challenge of verifying the authenticity of data supplied to the platform.
Several innovative applications of blockchain, the distributed digital ledger technology, illustrate the technology’s potential use beyond its cryptocurrency origins. One promising application of blockchain is as platform for improving the efficiency and transparency of global food supply chains. Here, we are already seeing numerous applications of blockchain which promise to bring benefits to producers, retailers, and consumers. However, these are still early days for blockchain as a supply chain management tool and it is important to be mindful, not only of the technology’s potential as well as early successful applications within food supply chains, but also of its risks and limitations. Among them is the challenge of how to verify the authenticity of the data supplied to the blockchain. Continue reading “Your Food Chain on Blockchain: The Coming Shakeup”