Contact us anytime to know more — Abhishek P., Founder & CFO CISIN
Whichever direction the innovation goes, time decides it, but the efforts always move towards bringing positive impact.
Food is the basic necessity of human survival. Traditional dining has now been transformed into food orders at home. Liquidity has become the primary concern of the Uber concept.
This way, another innovation brought Blockchain into the scene. The food industry has seen many changes during the past few years, and the changes have been for the best.
There are food delivery applications, restaurant table booking applications, raw food item delivery applications, etc.
These applications have made the life of regular people and restaurant owners much more accessible. Restaurant management solutions now don't have to worry much about food delivery, and everyday people do not have to step out to eat food.
Everything can be done with some taps on their smartphone devices. People can also order the food they want, and they can just go to the restaurant and take away their order. This feature has eliminated the queue of people for taking away orders and made the restaurant spaces accessible for people who wish to dine in.
This also saves a lot of time both for the restaurant and ordinary people. They can just order with their smartphones, and then they can go and take away their order when ready, no waiting at the restaurant.
Technology is evolving, and along with it, the areas that it touches are becoming too.
Food retailers all over the world can use technology to maintain records of their sales and their workforce. Using software for analysis of their sales data can help food retailers improve their strategies accordingly. Some software can even automate many tasks that need human involvement.
Companies can use technology for their benefit. The food app developers are now practicing integrating other payment systems into the existing apps. Love or loathe it, the Blockchain and smartphones are the demand of time.
Blockchain technology is used to store and share information across a network of users in a virtual space, such as in food ordering app development.
With the help of Blockchain technology, users can look at all their transactions in real time simultaneously. The transactions are not stored in one location; it is impossible to hack the information. This is one of the enormous benefits of this technology.
Blockchain is one of the best and trending technologies helping many businesses grow. It can also be used in the food industry. According to research, almost 20% of the top 10 international grocers will be using blockchain technology by the year 2025.
Describe Blockchain
Because it uses a decentralized network and cryptographic hashing to create an unchangeable and transparent history for any digital asset, Blockchain is also known as distributed ledger technology (DLT).
Blockchain is a method of storing data in a way that makes it challenging or impossible for the system's data to be changed, hacked, or otherwise manipulated.
A distributed ledger, or Blockchain, is a system of computers that copies and distributes transactions.
Blockchain technology is a method for storing public transactional records (sometimes referred to as "blocks") across different databases in a network connected by peer-to-peer Nodes.
The phrase "digital ledger" is frequently used to describe this type of storage.
The owner's digital signature authorizes every transaction in the ledger. This authenticates the transaction and guards against tampering.
The electronic register is relatively safe.
A Google spreadsheet shared across multiple computers on a network can be used to explain the digital ledger.
Based on actual purchases, it keeps track of transaction records. It's intriguing to note that while everyone may examine the data, it cannot be altered.
Providing Customers with Features
There exist some common problems in the food industry that are solved by blockchain app development in a very significant way.
The first issue is regarding the trust of the customers. The public always demands transparency in the food industry and food marketing institutes. This demand is growing at a fast rate as people are becoming more and more health-conscious and are keen to know the nutritional content of the food they eat.
As per reports, it has been seen that customers lean towards those brands that provide more in-depth information about the product.
They get attracted to the information beyond the information provided on the physical label. Here, Blockchain can play a significant role. Since this technology is easily accessible and has an immutable design, this can be considered the best solution for providing information.
With the help of Blockchain, companies can give customers firm and compact information about food. Some companies have already adopted this technology that provides traceability solutions to various ingredient-related problems.
Transparency not only helps customers but also plays a crucial role in the food industry and software development services related to it at a relatively sizable operational level.
Investigations can be done about foodborne illnesses and other problems. This can prevent human loss to a great story. Various food supply chains have also started using blockchain technology to operate the ingredients used in the food supplied.
Blockchain can collect data from multiple sources and create a particular database. This can contribute to tracking the food product back to the place from where it originated. This process will ensure efficiency at a time when food safety is questioned.
The second thing is the number of people involved in the food industry. The food industry marks the presence of various participants, such as farmers, vendors, retailers, customers, and many more, within the supply chain.
A more complex process is followed at the time of tracking goods. The farm-to-table procedure is a long and time taking process. The idea of involving blockchain technology helps suppliers and retailers in many ways.
They can get their data straight without any kind of manipulation or tampering. When verified data goes into the blockchain, there are no issues regarding the quality of food products used that can prove revolutionary in this industry.
Blockchain solutions by IBM continue to lead the field
IBM's food trust is the most mainstream and adopted tracking solution of blockchain technology.
It is based on the Hyperledger Fabric protocol for blockchain. This platform officially went live in October 2018.
Millions of individual food products were tracked by suppliers and retailers using IBM's Food Trust blockchain.
The scale of IBM's blockchain app development was expanded by the members of the Food Trust last year. Because of this technology, customers can now know where the potato from which the chips are made has come. They just have to scan a QR code with their smartphones, and they will get all the information that they want.
New tools for the traceability of food are emerging
In March last year, Carrefour launched its blockchain-powered solution to track milk.
The application is known by the name Carrefour Quality Line (CQL). CQL guarantees the customers complete traceability of the product throughout the supply chain, from the farmer's fields to the shelves of the stores.
Over time, new tools for the traceability of food products are emerging on the market.
There is a lot of competition among companies in the food industry. Because of that, every other company wants to give their consumers everything they need. These tools help companies gain the trust of their consumers.
Application of Blockchain to Alcohol and Coffee
The pace of blockchain app development has increased with the intrusion of this technology in the alcohol and coffee industries.
Several alcohol manufacturing companies are coming up with blockchain-based systems that help consumers determine the authenticity, quality, and provenance of various alcoholic drinks.
Additionally, a coffee giant such as Starbucks has also decided to implement the blockchain service of Microsoft, i.e., Microsoft Azure, so that it could track the production of coffee in various regions.
This will contribute to providing the farmers with better financial independence than before.
Below are some Features of Blockchain that can help transform the Food Industry
Safety of Food
The supply chain can be made very transparent with the help of blockchain technology.
This technology also gives the food chain the power to become more responsive to any food safety disaster. Big names have started considering blockchain technology for this specific reason.
One of the biggest food suppliers in the U.S., Walmart, has just completed two blockchain pilot projects.
Before these projects, Walmart tried to trace a mango in one of its stores, and it took a long time to trace the original place from where the mangoes came. With blockchain technology, Walmart can provide this type of information to its consumers in just a few seconds.
Through this technology, the food industry can trace any product at any point in time; this will help them to reduce the wastage of food.
Because of this, safe food would remain on the shelves, and the contaminated food would be traceable and could be quickly removed from the stands.
Fraud Prevention
For this, the data at the source should be accurate. There are many human errors in the industry, making it open for attacks.
Compliance data is audited by some trusted third-party organization and then stored on paper in some centralized database. These centralized databases are vulnerable to the inaccuracy of information, the high cost of operation, and some intentional errors.
These are motivated by corruption and fraudulent behavior.
Blockchain app development with useful tools operates anonymously, so if any mistake is made, the organization will be able to trace it and find the culprit.
There have been some food-related scandals recently, and with the use of blockchain, the culprit behind such scandals can be recognized very easily. This technology can help companies working in the food industry with methods by which they can keep their records permanently.
One more important feature of this technology is that it facilitates data-sharing between different actors in the food chain.
Many food retailers have sold fraudulent food products without knowing it. If the food industry starts using blockchain technology, these things will come to an end and will help the companies grow.
Fair and Fast Payment
With blockchain and its integration with wallet app development companies, everyone will get paid faster, from the farm to the plate, and everyone who comes in between will get their payment.
Farmers will be able to sell their products more quickly with this technology. They will get better prices and compensation for their crops in the digital space than in the local market. This will be easy as all the market data will be readily available.
This technology can help the farmers who have to rely on marketing boards to sell their commodities.
The use of blockchain technology can reduce the problem of price co-price and retroactive payments.
Both of them can be seen in the food supply chain quite often. By using this technology, the intermediaries can be eliminated, and this way, the farmers will get the best prices for their commodities.
The farmers have to face many problems in the market. Blockchain technology can help eliminate many issues for farmers and give them the fair and faster payments they deserve.
Limits
The current traceability systems need work, and blockchain technology can be the evolution that this system needs.
Blockchain technology can provide affordable solutions to both small-to-medium and large-sized enterprises because of its architecture.
Read More:- Why Should You Consider Building dApp on the DeFiChain Blockchain?
The amount of data or information that can be processed by this technology is limited, as all of the information would be out in the open and accessible to everyone.
Some contracts between the enterprises would need to be secure, so there can be some level of confidentiality that can be retained. Enterprises would need to balance how confidentiality could be balanced with transparency.
There are many secrets in the agri-food sector. Many food companies will find blockchain technology problematic as it is currently being deployed.
For many enterprises, blockchain technology is a kind of solution that is itself looking for problems. Either way, hiring a food app developer requires blockchain development level knowledge to be a necessary criterion.
The confusion in the marketplace limits participation
This technology is relatively new, and there are very few people in the market who know its real potential.
Every few days, there are rapid innovations in the architecture, applications, and business concepts of blockchain. Blockchain is a decentralized and open-source technology, and it is challenging for many sectors, including the government sector.
The food sector is open to innovations until they become natural. Only a few organizations dare to try new technologies, and others just watch what happens.
After some companies successfully use technology, other companies adopt it and use it for their growth too. This can be the future of blockchain technology and some software development services.
There are a few big organizations that have started using it, and in some time, when there will be positive results, other companies might use it as well.
How Smartphones have empowered the Food industry
Smartphones have changed the way people used to work and live. Everything can now be done with smartphones.
The food sector has also used smartphones to grow and reach more people. There are many ways in which food companies have used smartphones to their benefit.
Use of Personalized Smartphone Applications
Food companies can hire developers to get personalized applications. These companies can go for Food ordering App development, as these applications are in demand.
A customized application can help food companies establish a direct connection with their consumers. Consumers appreciate a good application, and companies need to see the potential of a personalized application.
Use of Ads on websites
Smartphone applications are filled with advertisements, and companies can deal with new and popular applications to show their ads.
Although advertisements are irritating, if placed correctly, they can attract users. Some mobile websites also offer promotions, and companies must devise an advertising strategy to attract consumers to their stores, apps, or websites.
Integration with third-party Apps
It is not mandatory to have a personalized application. The food companies can also integrate with some third-party applications for delivery, review, or listing.
This will save a lot of money and time for the companies and will also make sure that they get new consumers. A personalized application costs too much and takes a lot of time; because of these reasons, it is not possible for every organization to get a personalized application for their business.
There are applications like Zomato and Dunzo that provide food companies with listings on their applications and also provide delivery services for their products.
Conclusion
Blockchain technology and smartphones can create a revolution in the food distribution sector.
There are blockchain applications that are helping the food industry grow and interact with its consumers. Transparency is the biggest reason why companies should implement blockchain technology. Consumers are now aware of the technology and will prefer the brands and enterprises that provide them with all the latest innovations.
Companies need to take some risks to achieve their goals and keep their consumers satisfied with their services.
Smartphones are devices that control the world, and they influence enterprises' and consumers' behavior. Companies can change trends if they use smartphones accordingly. A good strategy can help the food sector use smartphone applications for their benefit.
Because both technologies, i.e., smartphone technology and blockchain technology, are new, there are a lot of possibilities for food companies.
The fact that customers use their iPhones to compare product costs when shopping is well-known to retailers.
If a customer finds a better deal online, many retailers now provide price matching.
A new string is added in IBM's latest effort. Although it is still a factor, shoppers who are more focused on quality will be led by it.
Cradle-to-plate solutions built on blockchain, like the coffee app, will give iPhone users more information about sustainability, quality, and environmental responsibility while they shop. Growers and customers are brought together, which benefits all sides by providing insight. Additionally, it might enable improved personalization and client pleasure.
Although the possible effects of blockchain applications on the entire sector were only briefly discussed in this essay, much more work needs to be done in this area.
Professionals ought to be able to remain on top of trends at all times.
