Search Coins

NFT Collection The Superlative Secret Society Price, Stats, and Review

cryptodaily.co.ukin 2 years
-2

XRP Price at Risk: Can Support Levels Hold?

www.newsbtc.coman hour ago
0

Bitcoin ETFs consume more BTC than miners produce: What this shift means

ambcrypto.coman hour ago
0

Cryptocurrency Market Today Dec 23: BTC At $94K, MOVE Down 20%, HYPE Falls 19%

coingape.coman hour ago
0

Binance Founder CZ Warns: Receiving Crypto This Way Could Instantly Empty Your Wallet

news.bitcoin.coman hour ago
0

Ethereum Price Back In The Red: A Deeper Drop Ahead?

www.newsbtc.coman hour ago
0

Shiba Inu eyes reversal as whales accumulate amid downturn – What now?

ambcrypto.com2 hours ago
0

Bitcoin Price Under Pressure: Could The Slide Continue?

www.newsbtc.com2 hours ago
0

Ripple Moves Big Money, RLUSD Sees Distribution, XRP Holds Key $2 Support

news.bitcoin.com3 hours ago
0

Vaneck’s 2025 Crypto Predictions: Bull Market to Persist, Anti-Crypto Policies Ending

news.bitcoin.com3 hours ago
0

End of Altcoin Season? Glassnode Co-Founders Warn Alts in Danger of Lagging Behind After Last Week’s Correction

dailyhodl.com4 hours ago
0

XRP Lawsuit Reaches 4 Years as Ripple Pushes Trump to Reform SEC

news.bitcoin.com5 hours ago
0

Stephen Miran to Lead Trump’s Economic Team: What It Means for Bitcoin’s Future

news.bitcoin.com6 hours ago
0

XRP’s $2.23 price tag: Overvalued or ready for another bull run?

ambcrypto.com7 hours ago
0

The introduction of Hydra could see Cardano surpass Ethereum with 100,000 TPS

crypto.news8 hours ago
0

XRP’s $5, $10 goals are trending, but this altcoin with 7,400% potential takes the spotlight

crypto.news8 hours ago
0

Bitcoin $178K Target In Sight? Analyst Highlights Bollinger Band Retest Mirroring Jan. 2024 Rally

www.newsbtc.com8 hours ago
0

Rich Dad Poor Dad Author Warns World About To Crash Financially, Calls Bitcoin a ‘Best Asset’ for Your Money

dailyhodl.com8 hours ago
0

Investors bet on this $0.0013 token destined to leave Cardano and Shiba Inu behind

crypto.news8 hours ago
0

‘$600M Would Buy a Lot of Bitcoin’: Microstrategy Boss Steers Bezos Wedding Drama Toward Crypto

news.bitcoin.com8 hours ago
0

Analyst predicts XRP to defend $2 as ADA and Lightchain AI position for breakout surges

crypto.news8 hours ago
0

Ethereum whales are accumulating Shiba Inu and Remittix – here’s why

crypto.news9 hours ago
0

Crypto whale nets $5.85M on PEPE: Unlcok new coin tipped for similar profits next year

crypto.news9 hours ago
0

Meme coin spotlight: Baby Pengu, Strips Finance and an H.P. Lovecraft-inspired token spark interest

crypto.news9 hours ago
0

Breaking out 3 low-cap altcoins inventors can’t afford to miss right now

crypto.news9 hours ago
0

Study: Blockchain Can Reduce Food Fraud By $31 Billion Within 5 Years

Nov 30, 2019 12:27 AM +00:00
0




By applying blockchain technology and IoT the food industry could save up to $31 billion in food fraud savings.


The food industry could save up to $31 billion in global fraud savings by tracking food on its way from farms to consumers via the blockchain.

A Nov. 25 study by Juniper Research reveals that blockchain technology, in combination with Internet of Things (IoT) sensors and trackers, will greatly reduce retailers’ costs by streamlining supply chains, while simplifying regulatory compliance, offering more efficient food recalls, and tackling fraud.

The study points out that the increased adoption of blockchain and IoT in the supply chain industry will add significant value to the food business’s supply chain. By stacking these innovative technologies, the food industry could stack up to $31 billion in food fraud savings in just five years. Research author Dr Morgane Kimmich said:

“Today, transparency and efficiency in the food supply chain are limited by opaque data forcing each company to rely on intermediaries and paper-based records. Blockchain and the IoT provide an immutable, shared platform for all actors in the supply chain to track and trace assets; saving time, resources and reducing fraud.”

Juniper’s research further shows that substantial savings in food fraud can be realized as early as 2021, while compliance costs reportedly can be reduced 30% by 2024.

Blockchain tech for the food and beverage industry

Blockchain and IoT, which each bring their respective strengths, continue to be adopted by the food and beverage industry. Over the past few months, a variety of players, including giants like Nestlé and Carrefour, have reported on their blockchain-powered initiatives within the field.

The most-adopted blockchain tracking solution within the field is IBM’s Food Trust, which is based on the Hyperledger Fabric blockchain protocol. The platform went live in October 2018, “millions of individual food products” were reportedly tracked by retailers and suppliers using the Food Trust blockchain.

Most recently, it was reported that salmon farming company Cermaq and smoked salmon producer Labeyrie were using IBM’s cloud blockchain technology to trace their product supply chains..


Share This Article


Get the most out of CoinFi News!

Save coins into your Watchlist and be the first to know about the latest market moving news.