Blockchain technology in food industry ecosystem

Abstract

Food industry is unique from the point of view of Efficient Consumer Response (ECR) which is a supply chain management initiative specific to the food industry and reflects organizations’ efforts to achieve quick response to reaching to market and ultimately consumer using Electronic Data Interchange, RFID (Radio Frequency Identification and bar codes. This paper would focus on looking at pros and cons of evaluating traditional traceability (is an important link in protecting public health since it allows health agencies to more quickly and accurately identify the source of contaminated food, fruit or vegetables believed to be the cause of an outbreak of foodborne illness, remove them from the marketplace, and communicate to the supply chain) matrix versus newly introduced disruptive technology called blockchain. This report outlines various components of traceability and its relation to other parts and methodologies in ensuring food product authenticity the paper further outlines detailing of blockchain technology its various types, implementation with examples and application in food industry. The concluding part of paper compares traditional vs. blockchain methods in regard to cost benefit analysis and implementation perspective of blockchain. The paper through reasoning and arguments justifies that how blockchain bases systems of food traceability are more suitable from speed, confidentiality and ease of implementation perspective as compared to traditional electronic traceability and current systems. From limitation perspective this paper highlights how lack of interoperability is currently the biggest one obstacle preventing system-wide, farm-to-fork food product traceability.