VeChain Foundation Announces Blockchain-Based Food Safety Solution To Make Food Safer
VeChain Foundation Announces Blockchain-Based Food Safety Solution To Make Food Safer
August 8, 2020
VeChain Foundation Announces Blockchain-Based Food Safety Solution To Make Food Safer
VeChain Foundation Announces Blockchain-Based Food Safety Solution To Make Food Safer
August 8, 2020

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.

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.”

ALSO READ :  Report: 62% Of Firms In South Korea Do Not Know Anything About Blockchain Technology

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


Crypto News Point a news platform of Digital Notice Media Labs is primarily a regular publication of information, commentary and articles focused extensively on fintech, blockchain technology, cryptocurrency, blockchain-based tokens, cryptocurrency market trends, and trading strategies. We do not provide individually tailored investment advice and does not take a subscriber’s or anyone’s circumstances into consideration when discussing investments, nor is Crypto News Point registered as an investment adviser or broker-dealer in any jurisdiction. Information contained herein is not an offer or solicitation to buy, hold, or sell any digital assets.

Affiliate Disclosure: To help support the work we do here at CNP, we often link to products and deals from around the web. Should you buy some of these, we may get a portion of the sale.

We in generally gather content from the major websites. In every article there is always a clear link and attribution to the source publication. If you have any issue with any of our published content taken from your site, kindly let us know so that we can take appropriate action. In any case, the content of the pages of this website is for your general information and use only. It is subject to change without notice.

You May Also like

Huobi Labuan Launches Trading Services In Malaysia

Huobi Labuan Launches Trading Services In Malaysia

The new Huobi Labuan is launching trading services in Malaysia shortly after having secured a digital asset trading brokerage service license from their authorities in September 2020. It has been reported that for an...

Ishita Bora

Ishita Bora is a Senior Content Creator at Digital Notice Media Labs with an experience of 1 year. She has completed her Master's Degree in Language and Linguistics in 2019 from Gauhati University, India. Her interest lies in blockchain technology and cryptocurrency space, as she loves writing about blockchain and other blockchain-related articles. Currently, she is working on blockchain-based news, reviews, featured articles, and guides.