Blockchain Research in the Retail, Food and Beverage Industries
Blockchain has come a long way from Crypto and Bitcoin. There is now a broader understanding of new Use Cases. Now, Blockchain has the capability to benefit the Retail and Food and Beverage industries.
How Blockchain Works
Blockchain makes it possible to have a shared ledger of transactions. This ledger spreads across decentralized networks. This transparency provides trust and rapid sharing of information that creates numerous efficiencies.
In the Food and Beverage industry, this ledger makes tracking the source of different food items possible. Blockchain simply and efficiently tracks transactions from the point of production. Managers can see the entire route the food takes, ending at the shelves in the supermarket.
Blockchain Uses Cases in the Food and Beverage industry
Tracking foodborne illnesses: Illnesses contracted as a result of contaminated food continue to be a significant concern. It affects food companies and consumers all over the world. With globalization, the potential for contamination in the supply chain is high. Blockchain makes it possible to track the source of contamination rapidly and transparently.
Supply Chain Efficiency: Blockchain provides traceability. It makes it possible for enterprises to track unsafe products. Blockchain enables investigators to see their areas of distribution. Blockchain can streamline the process of tracking down contaminated food to seconds. It can reduce errors, fraud, and tracking charges.
Reducing Food Waste: Blockchain has the ability to better track wasted food, and areas in the supply chain and forecasts that are chronically inefficient.
Improving Restaurants: “Smart Contracts” in Blockchain have the ability to automate and make more efficient time-consuming processes such as hiring, deliveries and demand forecasting. Blockchain and the Internet of Things (IoT) together can help restaurant chains adopt kiosks in today’s age of automation.
Evaluating Marketing Claims and Nutrition: Blockchain with its distributed ledger has the ability to prove marketing claims about nutritional value, sustainability and special dietary requirements.
Blockchain has the power to transform the entire food industry. By increasing transparency, collaboration, trust, and efficiency through the whole food chain.
SIS provides Strategy Research and Consulting to Food and Beverage companies exploring the implementation of Blockchain.
- Customer Research
- Competitive Analysis
- Market & Technology Trends Intelligence
- Go-To-Market Strategy
- Blockchain Expert Sourcing
- UX / UI Research
- Proof of Concept Research
- Blockchain: a 4 step approach
- Analysis of Blockchain need in your supply-chain & logistics.
- Market Entry Strategy
- Blockchain applications for your company
- Threat of Disruption Analysis
- Technology Acquisition (M&A)
- Partnership Strategy
- Knowledge & Best Practices Acquisition
Learn more about our Blockchain Solutions in the Retail and Food and Beverage Industries at www.sisinternational.com