Q. Why use blockchain?
A. Blockchain provides trust and transparency to solve food chain challenges that have stymied supply chains; with the use of blockchain, you can access the benefits of the platform, such as these:
- Trust and transparency
- Choose who is acting and receiving information, as you need only one shared ledger for transactions
- As the ledger is immutable, lack of confidence is no longer a problem, and participants can be sure of the origins and veracity of transactions
- Quick and easy access to detailed end-to-end supply chain data
- Minimize waste with better allocation of goods and products, based on data from the ecosystem
Blockchain gives participants the ability to share a ledger, which is updated through peer-to-peer replication every time a transaction occurs. Privacy services are used to ensure that participants see only the parts of the ledger that are relevant to them, and that transactions are secure, authenticated, and verifiable. Blockchain also allows the contract...