The problem of food loss due to inefficiency has necessitated more attention from global food suppliers as well as tech leaders, with the World Food Programme reporting more than 820 million hungry people around the world. Blockchain therefore presents a viable solution to this problem through its transparency and immutability.
Blockchain can be used as a weapon in the fight against food loss by helping predict the freshness of a field harvest through processing and supply chain stops in a transparent and immutable manner. The technology can also be adapted to better match supply to demand in order to avoid a mismatch that leads to food loss.
Each measurement or assessment in a food supply chain can be recorded on the blockchain to create an inviolate record accessible to anyone at any time. Food suppliers can also use blockchain to track food producers to verifiably and granularly monitor each shipment of produce — when it was harvested, under which conditions it was stored, what methods were applied to preserve its freshness, and so on. This would prevent false storage claims and freshness manipulation.
Dmitry Filatov, author at AgFunderNews, noted that “Today, each component of an extensive food supply system is being digitalized,” adding that there is also “a big need to increase the labor efficiency of agriculture, the quality of products and supply chain transparency.”
U.S. retail giant Walmart is among the companies keen to use blockchain to digitize its food supply system, specifically to track produce supply chains.
Australia-based agricultural management firm AgTrix and StellaApps in India are leveraging the technology to address not just production, but also the business processes which can improve and address issues in the agricultural supply chain.
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