Enterprise Blockchain Projects/ Blockchain Use CasesFood and Beverage Industry
Overview – How blockchain is being used in the food and beverage Industry?
The food and beverage industry has embraced the blockchain technology and several stakeholders from the industry are testing the technology for a variety of applications. Some of the industry stakeholders who have initiated these projects include NGOs, dairy farmers, fruit exporters, restaurant chains, food retailers, wine manufacturers, coffee manufacturers, supply chain solution providers, government agencies, and trade organizations.
Major benefits that the food and beverage industry stakeholders can derive by using blockchain are:
- Reducing the instances of food fraud through increased transparency in the food supply chain
- Reducing food waste through efficient management of food supply chain, especially for perishable products
- Eliminating redundant intermediaries from the food supply chain to increase the profitability of food producers and reduce the cost for the consumer
- Incentivizing sustainable practices of food production, and responsible consumer behavior
- Strengthening consumer loyalty
The adoption of the technology seems to have picked up significantly in the second half of 2017 and continues to remain very strong in the current quarter as well. The project completion rate is 18% and the promising thing is that all the projects that have been completed have resulted in commercialization and none of the projects have been shelved. This goes to show that there is a considerable buy-in into the technology from multiple participants.
Another important and easy observation is that in some projects we have seen the use of other emerging technologies – IoT and AI, along with blockchain to provide a more comprehensive solution.
Even though it is slightly early to say this, but blockchain in the industry is heading towards a state where organizations have started to see the use of this technology in some applications as a differentiating factor. To get deeper insights into the technology adoption in this industry, please contact our research team, by filling the form below.
Select Enterprise Projects/ Blockchain Use Cases
Stakeholders: Barter services provider
Key Benefits: The platform allows faster liquidation of surplus inventory for food and retail companies. The blockchain-based barter exchange platform reduced the cost of exchange while ensuring that the exchange data remains safe and secure.
Stakeholders: Wine producers
Key Benefits: The platform will help the consumers to have instant and in-depth access to the key product characteristics such as quality, authenticity, origin, ingredients, water, and energy consumption etc. This will help them in making a conscious purchase decision.
Stakeholders: Fruit traders
Key Benefits: The platform enables the consumers to track the origin and quality of fruits. This enhances consumers’ trust in the brand. The fruits remain safe from the fraudsters as any tampering throughout the supply chain will be recorded in the system.
Stakeholders: Dairy farm
Key Benefits: The platform enables the consumers to track the origin and quality of milk. This transparency enhances their trust in the brand.
Stakeholders: Food producers, Retailers, Retail advisory firms, Consulting firms, Logistics providers, Diversified retail services providers
Key Benefits: The implementation of the platform promotes transparency in the pallet exchange process. The logistics operators can also get to know which supply chain participants are involved in the supply chain. The integrity of the information remains intact which removes the need for an intermediary for monitoring of the process.
Key Benefits: Poor people who collect bottles can access safe and secure transfer of payments directly to them via tokens. The transparency in the supply chain is increased, which means corporate partners involved in the project can track their investment in the project. The immutable property of blockchain safeguards the transaction records from any type of manipulation during the process.
Stakeholders: Coffee brand, a certification body
Key Benefits: It allows the companies to record and track their claim on an immutable register that cannot be modified at any later stages, authenticating the claims made by the organization. The claims display the level of engagement by the company in the initiative as they can’t be modified, hence, everyone can trust the claims.
Stakeholders: B2B logistics platform
Key Benefits: The lending process becomes transparent to all permissioned parties involved, from the lending bank to the borrower’s bank and the loan applicant themselves. Employing the series of smart contracts reduces the time it takes to manually process and issue the loan. No single party can append the blockchain data without consensus from the entire network. As a result, it safeguards any fraud in the process.
Stakeholders: Chemical company
Key Benefits: The platform will enable the community involved in livestock management to collaborate towards reducing the environmental impact of livestock management.
Stakeholders: Food and beverage company
Key Benefits: Allows customer to convert reward points from multiple vendors to common crypto-currency, and monetize their marketing preference information. It can enhance customer retention and could increase shopping frequency, and brand recall.
Please note that we have only included those projects/ use cases, which have been selected by enterprise clients, non-profit or government organizations to improve their existing business applications and processes, or to develop new solutions for their customers. We have not included independent blockchain platforms which claim to provide solutions for improving existing applications by using blockchain unless such solutions have been adopted by existing enterprises.
For each project, we capture all relevant details including stakeholders/ organizations involved, vendors involved, application/ use case, geographic footprint, benefits to each stakeholder, implementation challenges, project timelines, the current status of the project, and comments from senior decision makers involved in the project. This information, along with additional research is used to deliver customized research solution to senior IT decision makers, and technology vendors who are developing blockchain solutions for enterprises.
Your blockchain research starts here ...
ESG Intelligence closely tracks the enterprise blockchain adoption across different industries, countries, and applications. We have provided sourcing intelligence to several senior IT decision makers, who are exploring the adoption of this technology. Our database of 800+ enterprise blockchain projects and 500+ enterprise blockchain vendors make us the right source to start your blockchain research.
Our team is well equipped to produce research reports customized to your specifications and focusing on the use of blockchain in any industry/ applications/ country. Here are some ways in which our research can help you:
- What are the benefits that every stakeholder will derive from blockchain adoption?
- What are the blockchain adoption trends with respect to project initiation, platform selection, and vendor selection?
- What are major challenges to commercialization of the technology?
- How does blockchain integrate with other emerging technologies – IoT, AI, 5G, Big Data?
- How can blockchain help organizations improve sustainability performance?
- Identification, comparison, and analysis of vendors who are working on blockchain implementation.
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