The VeChain Foundation announced a blockchain-based food safety solution based on its Blockchain-as-a-Service (BaaS) platform “ToolChain” that will allow the food sector to implement on-chain safety management services and to make food safer.
It has been reported that these services include traceability templates that track things like origin traceability, cross-border traceability, full-process traceability, and more.
However, they have high hopes that the tool will be useful for many sub-sectors and products, such as fresh food, dairy, alcohol and wine, and imported food.
The report said that companies will also gain access to third-party services such as PwC, Deloitte, DNV GL, among others, to help them to reduce the cost of certification, auditing, insurance, and supply chain financial services.
The VeChain Foundation turns its focus to food safety with a new ready-made Blockchain tool, reports @conexiondigicol https://t.co/9wqQToUHKZ — Cointelegraph (@Cointelegraph) August 7, 2020
VeChain stated that most BaaS platforms and companies on the market today provide only assistance for high-level framework services, “such as the deployment of nodes.”
They added:
“This massive barrier of entry hinders the adoption of blockchain in the food sector. With VeChain ToolChain, ready-to-use blockchain applications can be deployed and implemented quickly to solve real business needs.”
Also, VeChain is providing built-in, ready-to-use templates modeled for food cultivation, processing, packaging, logistics, retail, and more.
As per the report, the United States Food and Drug Administration (FDA) recently released a blueprint and pilot study for food safety, highlighting blockchain as a viable option for some of the identified challenges.
Similarly, in July, IOHK, the team behind the Cardano blockchain, partnered with BeefChain.
Thus, many companies like these hope to use blockchain technology to improve food traceability and security.
Source: Cointelegraph | Image: Fox Business