The blockchain does not fail to surprise us, all thanks to the innovative applications that make headlines every day. In yet another recent development, the government of South Korea has proposed a plan to use blockchain technology for tracing beef, as revealed by Yonhap News agency on November 20.
They revealed that the South Korean government is attempting to provide more details to the consumers regarding the food supply chain.
A pilot program based on blockchain technology has been launched jointly by the Ministry of Agriculture, Food and Rural Affairs, and the Ministry of Science and ICT. The testing of the program is scheduled to happen in December, and the program will be launched officially in January 2019.
The South Korean ministries plan to use the distributed ledger technology to “to track beef through the supply chain to provide consumers with information about the source of their food.”
According to the article made public by the news agency:
“The new platform uses blockchain technology to store related information and certificates in the distributed ledger to enhance efficiency and credibility.”
The current system makes use of paper to record information related to aspects like slaughter, packaging and the like, but the entire process takes time and is often exposed to errors, and risks of fake certificates.
It is worth mentioning here that the beef-tracking pilot project based on blockchain is just one of the initiatives of the South Korean government. The government announced that it has allocated $4.4 billion in 2019 budget for artificial intelligence, big data, and blockchain.
Blockchain and Supply Chain
The use of blockchain technology in the food supply chain is on a rapid rise. Similarly in the same area, a UK food safety watchdog announced beginning of July that it had recently completed a successful pilot run of blockchain technology for inspecting meat in a supply chain.
Also in the supply chain, CBH group, one of Australia’s largest grain exporter, partnered with a local startup to track shipments with blockchain, this time it was oats. Last month, the four largest agriculture companies in the world, commonly known as ABCD, Archer Daniels Midland Co., Bunge Ltd., Cargill Inc., and Louis Dreyfus Co made plans of using blockchain along with artificial intelligence to make trading of grains more transparent.
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