What does blockchain have to do with the global food security?
The possible merge between a disrupting blockchain technology and global food chain.
By Markets Chimp
2/27/18 1:16 AM
Blockchain technology is looking to revolutionize the food industry by making significant advancement to the mechanism that governs food chain. Blockchain, the one that planted the seed for cryptocurrencies, is quite differentiated from other existing technologies in terms of data storage and transaction processing.
Such a technology decentralizes recorded data, instead of having data in one central ledger, meaning that data are distributed to multiple ledgers at the same time. Food chains are looking to use this tool, benefiting from its decentralized features to keep food data more safe and minimize food fraud.
The output of a fully-adopted food chain to the blockchain technology will be more traceable, yet credible, data of our daily food. This should help eliminate corrupted food sources from the global food chain, eventually supporting global food security.