The Bitcoin price increased dramatically at the end of 2017, making Blockchain, the system behind it, a trendy issue in 2018. Blockchain’s transformative powers go beyond the banking and FinTech sector and can remake the supply chain and food system. From the management of restaurants and stores to bringing more transparency to the supply chain, it can create disruption to the sector as never before.
In the food industry, blockchain technology has the potential to reduce inefficiencies, provide more transparency in food security and strengthen the value of the brand. In the supply chain industry, return-to-back communication has historically slowed processes. Now, we have the technology to digitize the supply chain with blockchain at our fingertips.
Food can be wasted at any time during your trip, usually before in developing countries and later in the more developed nations. The United Nations Food and Agriculture Organization estimates that about 40 per cent of food production is lost before it reaches the market.
There are a lot of reasons for waste, but it is generally about loosening strict food quality regulations in developed countries: a large part of this waste occurs because food is handled, shipped, or stored Incorrectly somewhere in the supply chain.
BLOCKCHAIN’s next steps in the food industry
Blockchain technology can help the food industry share assets and information in an easy, economical and secure way. Because technology makes a supply chain more transparent to a whole new level, it also allows the whole chain to be more responsive to any food waste. Massive organizations like Nestlé and Unilever are considering blockchain technology for that reason.
One of the reasons we have environmental crises, such as the overexploitation of natural resources and the excessive waste of food, is linked to the lack of accountability and the existence of multiple intermediaries in the food sector. Now, the elimination of deterioration will not solve world hunger, but it is a step in the right direction to improve the food cycle and reduce waste by making food more affordable and accessible on a global scale.
Similarly to how blockchain technology eliminated the broker and brought transparency and efficiency to the supply chain, it can be applied to the food industry. Increased confidence in traceability and the exchange of awareness and education around technology will be the cornerstones of a new model that brings together suppliers, restaurants, retailers and buyers in a decentralized global network.
ARTIFICIAL Intelligence and intelligent algorithms in action
Perishable and expiring foods should soon be sold without delay. Spoiled and expired food is useless to anyone. Artificial Intelligence (AI) and intelligent algorithms used in delight, a global Food Network powered by Blockchain, streamlines search, demand and supply, preferences and other patterns to optimize search and find Quickly a supplier who can meet the exact needs of the buyer.
With a global food market in the region of USD 1.7 trillion and waiting to increase to USD 3 trillion in 2020, the Blockchain Food Network will respond to the compelling need to provide restaurant owners and retailers with a direct relationship with CO Nsumidores.
Delight will help locate quality affordable food for consumers around the world, which are specific to their own geographic location and preferences. The artificial intelligence-powered system provides continuous reliability and build-up reputation for vendors and buyers. Efforts are being made to tokenizar the Delicias ecosystem with blockchain technology based on Ethereum through a multipurpose utility token, DFT, with the end result of the elimination of the global food waste crisis. To that end, the company launched a sale of tokens to facilitate the use of food on the blockchain platform of the company next to be launched.
The team behind the project also participates in talks with the United Nations and pursues a collaborative agreement under its objective of sustainable development. Such an association could provide significant opportunities for participation and investment, as well as benefit communities around the world.
With the IoT and delight model, you can achieve an end-to-end supply chain visibility in real time, no matter where the food starts and ends your trip. All efforts to reduce food wastage and make food more affordable and accessible can be coordinated, eliminating waste at all points in the chain–a victory for all.