BeefLedger.io (CRYPTO:BEEF) chairman Warwick Powell explains in detail, how food provenance and supply chains can be linked with the blockchain, solving many problems associated with confidence in what we buy to eat.
After some years of development, BeefLedger has emerged as a hopeful antidote to food fraud and supply chain mistrust.
In a 40 minute interview, Mr Powell explains the basic concepts of food supply and blockchain integration, with examples of how that works in the BeefLedger ecosystem.
The beef supply chain in Australia is one of the most complex food production and distribution systems around involving live animals, dynamic environments and climatic conditions, strict regulatory regimes, transportation and processes of disassembly and reassembly.
Numerous families, businesses and communities depend on the viability and sustainability of the beef supply chain. There are over 45,000 beef cattle producers across the country, with a national herd of around 27 million head of cattle. The industry exports around 70% of annual production and is the third largest exporter of beef in the world.
As demand for beef in growing markets like China grows, the risks of meat fraud and safety increases. A robust credentialing platform is needed to ensure the reputation and value of the Australian beef industry is protected. BeefLedger can monetise data value, and ensure this value is captured by those responsible for its production. This includes provenance data right through to consumer data. Whereas Australians consume on average 26kg per person of beef per year, Chinese consumption is at considerably lower levels (6kg). However, Chinese beef consumption is growing rapidly.