Cibus Blockchain will transform the global food supply chain

Blockchain technology has become the talk of the town because the technology is found extremely potential for strengthening global supply chain. Similarly, Cibus blockchain integration is anticipated to transform the global food supply chain in a positive way. Let’s close view the point.

What is the present problem of food supply chain?

Unpredictability and unorganized food journey is one of the recurring problems of food supply chain and the problem is persisting all over the world. As a food product travels thousands of miles, journey details or tracking the product till it reaches to the consumer’s plate is not always possible, the risk of quality compromise always looms large. On the other hand, the interference of middlemen makes the whole food supply chain corrupted to a large extent. As the result, global food supply chain is lacking reliability and transparency to consumers.

According to statistics shared by The UK Food Standards Agency (FSA) 2,265 cases of food contamination were found during 2016–17, which was a 30% increase on the preceding year. The World Health Organization (WHO) has calculated that 420,000 people die every year from unhygienic food, with approximately one out of 10 is becoming sick due to consumption of tainted or adulterated foods.

How Cibus Blockchain can intervene?

According to Cibus white Paper, Cibus blockchain is a shared, distributed ledger that has the ability to record transactions and track food products without the support of a central repository. It empowers all members of the network to share and authenticate transactions every time they come into view, reducing the need for intermediaries, opposing internal system or a 3rd party audit. According to the paper all of these leverages make blockchain equipped for implementing end-to-end traceability, as it is planned to track asset making, transformation, and ultimately performing transactions.

Using the Cibus blockchain technology, all members can routinely trace the origin of a food product or can do inspection of a product’s processing at any stage of the food supply chain.

This can help food manufacturers and suppliers to improve efficiency by eliminating unnecessary intermediaries.

Other advantages of using Blockchain technology

There are other advantages of using Cibus blockchain. A few are outlined here.

• Bureau Veritas UK certification M.D Joy Franks has identified that complete traceability in the food supply chain has been an indefinable goal due to major costs and logistical problems for food manufacturers and suppliers. But he has mentioned that Blockchain technology can implant transparency and reliance here.

• Cibus Blockchain technology ensures confidentiality. Not only the transactions and food related records cannot be accessed by all participants of the network, also the cryptography element can protect private information and records by using smart contracts offering added security. Smart contracts are robotic rules maneuvering a blockchain transaction.

• As a result, Cibus blockchain if integrated to food supply chain can enhance the consistency of information, making absolute traceability possible, and make every transaction quicker, cheaper and more efficient.

According to Franks, “blockchain technology is the future of the food supply chain”. He has advised organizations to implement blockchain integration in food supply chain to pave a new age of food traceability. Cibus blockchain is working in this manner to take food traceability one step ahead by improving global food supply chain.

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