Cryptocurreny in the Food and Beverage Industry

Cryptocurreny in the Food and Beverage Industry

Included in my collection “Real World Applications of Cryptocurrencies”, and followup in my prior article on Cloud Computing & Golem, which you may find here, I’ll be discussing how the Food Traceability business is going to likely be disrupted by the development of this blockchain and cryptocurrencies.

Coincidentally, after I’d started writing this article, I attended a beef training course, in which the Chef was Wondering just how difficult it’s to learn precisely where beef has come from, how it’s butchered, while it’s organic etc. –  an ideal example for the requirement of food traceability.

Examples  – Tap Coin –

Food traceability is likely something that you never thought of earlier but something vitally important for your health. Regardless, there are quite a few problems within this industry and notably in emerging markets, which are also important exporters of meals. Some of those issues include:

Food Safety –  I can’t stress enough, just how intense the societal and financial effect is, from insufficient food security.
Compounds  –  Utilizing antibiotics in agriculture has several advantages; they encourage growth and therefore are vital for treating ailments in animals. However, antibiotics have been overused and oftentimes, used as part of farming to stop infections and accelerate growth. This has given rise to antibiotic resistance, resulting in fresh “superbugs” that are consumed by people during food ingestion. All these “superbugs” may lead to illnesses in individuals that may result in adverse health effects. You may get a brilliant article by the UK’s National Health Service article describing the issue here.

Collecting data via the Tap Token – restaurants and bars are able to better serve the clientele

Mistrust & Fraud–Food supply chain providers, consumers and authorities don’t have any means of verifying how each functions. There is not quite a means to demonstrate that, which might cause mistrust and deceit. Furthermore, food fraud features a substantial global financial price to the food market. In accordance with PwC the financial effect is estimated to be in the area of$40 billion yearly.

Economic Inequality –  Based on a report by public policy group Demos, the food business is among the most unequal industries within the USA market, which is echoed worldwide. Merely to give you an instance, CEO’s of fast food chains may make 1,000 times greater than their ordinary employee. This not only hurts the under-paid employees, but also burglars.

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