Blockchain and geographical indications: a natural fit?

Abstract

... Blockchain is a lightning rod—attracting both starry-eyed entrepreneurs and industry behemoths. Discovering the technology’s transformative potential beyond cryptocurrency has become routine: its proponents claim that blockchain could ‘revolutionize’ a myriad of industries.1 One of the most established blockchain applications is in food supply chains. Blockchain’s ability to more efficiently and effectively trace goods, its near immutability, and its capacity to increase coordination amongst disparate parties are all touted as bringing greater transparency and assurance of a product’s origin and quality. Supply chains involve frequent transactions as products flow to market, so a complete and accurate record of those transactions is important.2 Trust in the food industry is severely lacking; for both consumers and companies, the provenance, quality and safety of food are of enormous significance.3 Blockchain is seen as especially advantageous in quickly tracking goods that need to be recalled to ensure food safety4; several successful pilots have been implemented, including those by Walmart on IBM’s Food Trust blockchain platform5 and Auchan on TE-Food’s FoodChain blockchain platform.6 Blockchain’s features have allowed food supply chains to increase confidence in the provenance, authenticity and quality of their goods.7