Since 2009, the year of its creation, the bitcoin has done nothing but make people talk about themselves. The cryptocurrency invented by an anonymous masked behind the pseudonym Satoshi Nakamoto, has quickly become the subject of discussion and study, as well as the protagonist of a sort of digital gold hunt. Even if indirectly, bitcoin through the open source blockchain technology that is its basis is destined to play a fundamental role in the food industry according to Cb Insight analysis.
A blockchain (Italian block chain) is basically a public, shared and distributed register that can record transactions between two parties in a secure, verifiable and permanent way. This 'accounting book' exploits the decentralized 'peer to peer' network which certifies and records all the steps that a block runs from the origin without the need for a central server (which could easily be tampered with, controlled, banned or subjected to failures). The introduction of the smart contract protocols based on blockchain has meant that this technology can be exploited for certification and verification in countless other sectors in addition to the financial sector.
In the food sector, the blockchain will allow you to keep an eye on all the commercial relationships that lead to the final transaction between producer and consumer: each product can be monitored in real time from farm to table, with substantial economic benefits for the companies involved.
This will reduce, if not eliminate, scams and counterfeits, which often feed on particularly ineffective, messy and fallacious communication and logistics systems. Moreover, the costs of traceability systems would be reduced: according to the Oklahoma State University, the economic benefits associated with the use of blockchain in the breeding sector would lead to savings of up to 80%.
The Walmart , the largest retailer in the world is working in partnership with IBM for a transport and tracking system that behind the blockchain. The 'smart package' system is described analytically in the patent application filed with the US Patent and Trademark Office . The shipment should contain a device that would record all the steps in the supply chain, environmental factors, location data and more in a blockchain. Last year, Frank YiannasWalmart vice-president for food security presented a demo of the project. Using traditional methods to analytically trace a mango game from Ecuador to a Welmart store in Los Angeles it took 6 days, 18 hours and 26 minutes while using the blockchain-based application it was enough to scan a QR code to get all the supply chain steps in just 2.2 seconds. The advantages are remarkable especially for foods that are to be eaten fresh. In the event of a contaminated consignment, the affected batches could be identified immediately and no healthy food should be wasted, which in 6 days could no longer be edible.
Video Frank Yiannas explains the use of blockchain in the food sector
Currently, the traceability of a product by the consumer is entrusted to a small label with all its limitations. Blockchain technology would allow consumers to know in real time the origin, movement and activities of the products they are supposed to buy, avoiding obscure goods. GMO treatments, processing, expiry, storage, all information will be available thanks to the smart labels that should arrive on the market: a smartphone and a QR code will be enough to access the information. Just think of the numerous food frauds that in recent years have hit the 'Made in Italy'. The adoption of a public 'ledger',
Although bitcoin's popularity is falling sharply after the year-end boom , blockchain technology could invade the power market in other channels: the Starbucks giant , following in the footsteps of the now unreachable Amazon , would plan to adopt a cryptostrategy far more aggressive. Amazon has in fact proposed to its users a survey to explore the possibility of creating its own currency, unofficially defined Amazon Coin, receiving public favor ( source CNBC ). Starbucks , according to executive director Howard Schultz, would do the same:"This is not Bitcoin. But I think that given our app and our digital facilities, we could become one of the first companies to have a currency of its own " ( source Time ).
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