In response to the need for optimum transparency and safety in the food supply chain, VeChain Foundation is ushering out a blockchain-based platform for food traceability.
At present, food-producing companies around the world are making great moves to ensure transparency in the supply chain as we continue to battle the challenges of the COVID-19 virus. VeChain ToolChain offers companies a proper framework that permits collaboration among food supply chain stakeholders.
VeChain said it is launching the VeChain ToolChain™ powered platform christened “Food Safety Solution” to batter a number of pressing issues in the food industry as the world evolves.
VeChain boasts of the supply chain solution as a platform that would be deployed with the fastest lead into the food industry, and it will be embedded with VeChain’s industry-leading technology alongside great business-ready technical features that offer an outstanding experience.
Blockchain and IoT have been seen as a messier that will probably solve most of the issues faced in the food industry. VeChain believes that the two technologies could help reduce costs in the global food industry by introducing the following:
Increased transparency, coordination, and trust in the food supply chain as well as traceability which will enhance the international food trade. Via blockchain and IoT, $47 billion revenue enhancement can be created in the food industry, the blockchain foundation believes.
With blockchain technology, data collected with IoT devices can be used to streamline business processes. This will make companies imposing among their contemporaries in a crowded market, and develop a mutual standard for the future of the supply chain.
VeChain ToolChain Ready-To-Use Blockchain Solves Adoption and Deployment Barrier
VeChain designed its blockchain-enabled platform to let businesses and enterprises make use of blockchain technology without any hassle. It makes blockchain deployment a piece of cake as enterprises are hindered by the implementation problem.
Businesses claim to be intimated by the need to build their own blockchain application from genesis. However, these problems are solved with VeChain’s ready-to-use blockchain template that helps food companies track the entire history of food products within the supply chain.
VeChain serves as a facilitator that enhances the implementation of blockchain technology. It boasts of its food safety and traceability as one designed to offer rich standards, cheap cost, and flexible payment in the market, and they are mostly customized for the user.