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BeefLedger Launches Blockchain-Based Food Platform In China

BeefLedger, an Australian blockchain firm, is launching a blockchain-based food provenance platform in China after rising demand for meat in the country. 

However, BeefLedger, a token-driven platform, allows beef importers, retailers, and wholesalers to pay for beef shipments with BEEF tokens. The token’s blockchain network will also store all beef-related information, from rearing to the finished product.

The information can be viewed by Chinese consumers to learn about details such as the provenance of the cattle and meat transport, as well as the health history of a cow.

Blockchain Supported by Government-funded Agency

Image Source: Asia Blockchain Review

Food Agility, an Australian Government-funded Research Firm, supports BeefLedger. In 2018, Food Agility, Queensland University of Technology, and truck insurer NTI have worked with BeefLedger to pilot a project to track beef exporting from Australia to China.

We are pleased to be working with @foodagility & @QUT on this project of national significance. In an era of diminished trust we are building new ecosystems to support the governance of common knowledges. — BeefLedger (@BeefLedger1) November 4, 2019

Apart from identifying the provenance of beef, the platform will monitor processes after slaughtering.

Warwick Powell, the Founder and Chairman of BeefLedger, stated: 

“We can secure data to track the conditions of transport, more accurately predict shelf life and use-by dates and connect consumers with producers. We are putting the systems in place that minimize the risk of ‘fake steak’ being delivered.” Warwick Powell

It has been analyzed that BeefLedger has also teamed up with Chinese entrepreneurs to study Export Smart Contracts under the BeefLegends initiative and LibertyPost, a Beijing-based E-commerce Ecosystem Developer, to develop a digital feedback-loop between consumers and producers.

Thus, in the United States, BeefChain, the American firm, which is a member of the IBM Food Trust, is developing a platform for the ranchers. Other active blockchain beef traceability projects include a pilot for beef traceability in the North Jeolla province in South Korea and a blockchain system piloted by the Food Standards Agency at a cattle slaughterhouse in the United Kingdom.

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#CryptoNewsPoint #china #DigitalNotice #BeefLedger #BlockchainFoodPlatform

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