VeChain announces blockchain solution for food safety

The COVID-19 pandemic has accelerated the need for food companies to build more resilient and transparent supply chains. In this context, blockchain technology known as the “Trust Machine” is considered an option. In this context VeChain officially launches its blockchain-enabled food safety solution based on the BaaS (Block-as-a-Service) platform VeChain ToolChain. This was reported by PR Newswire on August 14th.

According to the PR Newswire Post, The solution enables the implementation of blockchain technology in the food sector with a faster turnaround time compared to other platforms in the industry. Blockchain for the food sector in the so-called “new normal”

“After the coronavirus outbreak, food safety concerns have come to the fore. Changes in consumer behavior due to COVID-19 have resulted in increased demand for safe and traceable food. According to an IBM study, 71% of consumers are willing to pay an additional 37% average amount to companies that offer full transparency and traceability, “the publication said.

VeChain announces blockchain solution for food safety
VeChain announces blockchain solution for food safety

“”Blockchain technology is well positioned to address current issuessince it provides reliable immutable data. Reliable immutable data is the critical component to enable transparency, accountability, and most importantly, trust between all participants in the supply chain, from the raw material supplier to the end user. “They added later.

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