Worldwide food-related fraud and fake product cases have been estimated to cost tens of billions of euros every year. This is possible because the supply chains that are related to food production, transport and sale are often very complex and information about the food product and its different phases is not always available. This can lead to situations where fake products are being sold in place of real ones, which can in the worst case scenarios lead to serious medical conditions or even loss of life.
By utilising blockchain technology in gathering and saving data about food products in each of the phases from growing and harvesting a crop, to transporting and processing it and ultimately to bringing it onto supermarket shelves, the full history of a single food item can be viewed. This can lead to cost saving, improved customer trust, protection of brand reputation and safer products.
Blockchain is being tested and used in the food industry by both international operators such as Wallmart and domestic operators like S-Ryhmä and Arla.