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As a Blockchain Development Company, we provide extensive development services of blockchain in supply chain management at Tracefood to boost efficiency.
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Impacts and Benefits of Blockchain in Food Supply Chain Blockchain in Food Supply Chain
Blockchain Traceability Transparency • Food traceability is one of the most important benefits offered by blockchain. Food Traceability helps to enhance the food safety with innovative blockchain applications. • Tracefood facilitates food companies and consumers to find out where the food items are produced, how they are manufactured, and the various phases the items went through, just by scanning the QR codes on the packages.
Food Supply Chain • Blockchain in food supply chain helps to improve food safety by making the operations more traceable, transparent, immutable, auditable, and decentralized. Blockchain is a distributed and decentralized database that records data in a business network. It is a public digital ledger that stores the same data across various systems and enables all users to access them.
What is Food Supply Chain? • A food supply chain is a process that refers to the various stages the food products go through from the producer to the consumer • The food supply chain encompasses different processes that include, • Production • Storage • Processing • Packaging • Distribution • Retailing • Consumption • Disposal
Global Market Forecasts of Blockchain in Food Supply Chain Management • Blockchain in supply chain is revolutionizing the food industry by offering a range of transparency. • Tracefood is already started to explore the market by providing certain potential applications in food supply chain management in blockchain. • As per the stats provided by Research and Markets, the global market size of blockchain in the agriculture and food supply chain is around USD 133 million in 2020 and is estimated to reach over USD 948 million by 2025.
Benefits of Blockchain in Food supply Chain Traceability Transparency Quality Control • Blockchain supply chain helps to track the source of contamination in the food items and also to identify solutions by finding the root causes of problems. • Blockchain in food supply chain management helps to record and monitor data on the food product quality control procedures across various stages in the supply chain. • Tracefood facilitates food companies and consumers to find out where the food items are produced, how they are manufactured.
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