Last month, FE provided an extensive look at blockchain technologies and their application in food and beverage. Though relatively new, blockchain distributed ledger technology (DLT) applied in food and beverage can speed up tracebacks from days to seconds, as IBM and Walmart demonstrated a few short years ago. Blockchain technologies can, of course, be used in the supply chain to provide a verifiable journey of a product or ingredient (including conditions) from the farm to the consumer.
So along the way, blockchain technologies can be used to aid in food safety and recalls, get a handle on food fraud, satisfy regulatory compliance, improve sustainability by finding faults in the supply chain, help companies become more sustainable and provide consumers with information to make better buying decisions. Blockchain technologies can also help with product design and lifecycles.