While blockchain technology is usually associated with bitcoin and other cryptocurrencies, today some companies in the food industry are beginning to implement this tool to increase transparency, trust and consumer safety while reducing waste.
Many experts describe blockchain as a digital ledger. It is decentralized, meaning that no single individual or entity controls every computer on the blockchain network or the information entered onto the digital ledger. Every transaction along the supply chain is recorded on the ledger, time stamped, given a code or “hash,” and linked to the blockchain. All parties on the network — growers, wholesalers, distributors and retailers — can read the data in real time and add their own updates. And, almost without exception, the data, once entered, cannot be altered or erased. Read the article here.