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Blockchain

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Publication date: 22/04/2020
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According to the World Health Organisation (WHO), every year 600 million people get food poisoning globally, and 420,000 people die as a result of contaminated food. The rise of food scandals and recalls in retail lead to a lack of trust and increased insecurity of consumers. Consumers demand healthy and safe food and they want to know where the food comes from, how it is processed and which ingredients there are in the products they buy.

According to a recent survey with 2,600 European consumers, conducted by the data and analytics group IRI, more than one third of shoppers are using smartphone applications to seek for product information in grocery stores. This implies, that there is a growing demand for more product information including traceability across the food supply chain and additional health and nutritional information.

Due to a lack of access to information and traceability across the global food supply chain, the use of blockchain technology has great potential to efficiently track food throughout the complex global supply chain, including farmers, processors, retailers, regulators and consumers. Blockchain technology could revolutionise the end-to-end transparency in the global food system.

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