Blockchain and food
After a number of scandals rocked the food world, many companies are now looking to blockchain to help manage where our food comes from.
A recent PWC study estimated that food fraud costs the industry up to $40 billion annually. And in the U.S. alone, contaminated food leads to 48 million illnesses, 128,000 hospitalizations and 3,000 deaths every year.
One solution? Blockchain’s immutable ledger, of course. Platforms like FoodLogiq, IBM Food Trust, ripe.io and TE-FOOD have experimented with blockchain systems that record every bushel, seed and nut grown, ensuring that only the finest ingredients reach your plate.
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