Many companies need strong supply chain traceability. For the most prevalent tracing challenges, blockchain may provide a formidable solution.
Real-World Applications
Using blockchain to trace products is especially promising for certain industries, including the food, fashion and regulated products industries.
Food Industry
Supply chain traceability is crucial in many industries, but arguably none more so than the food industry, where concerns about contamination, intentional adulteration, and bioterrorism are ever-present.
The most promising applications in the food industry involve conducting product recalls and ensuring consumer satisfaction for perishable products.
Real-World Applications
Using blockchain to trace products is especially promising for certain industries, including the food, fashion and regulated products industries.
Food Industry
Supply chain traceability is crucial in many industries, but arguably none more so than the food industry, where concerns about contamination, intentional adulteration, and bioterrorism are ever-present.
The most promising applications in the food industry involve conducting product recalls and ensuring consumer satisfaction for perishable products.
- Food Recalls and Market Withdrawals
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Some of the keys to successfully stopping outbreaks of foodborne illnesses through food traceability protocols include the accuracy and speed of obtaining tracking information and the inability of third parties to manipulate that tracking information. Companies that attain top recall accuracy and speed by implementing investigation improvements can reduce recall costs, loss of profits, and reputational damage, and in the case of food recalls, save lives. Enter blockchain.
Continue reading: https://www.natlawreview.com/article/fast-track-using-blockchain-to-trace-products-through-supply-chain
