WWF uses blockchain in new food supply chain product
Earlier today a tweet anounced that WWF-Australia (World Wildlife Fund-Australia) is launching a new supply chain tool that utilizes blockchain technology to help consumers and businesses track food items. In short, consumers can now know exactly where their food comes from and businesses can track their inventory.
BCGDV (BCG Digital Ventures) entered a partnership with WWF-Australia to bring this platform, labeled OpenSC, to the masses. The former is recognized as a global corporate enterprise, investment and extension of the Boston Consulting Group based in the US.
An update on the WWF website says this system permits consumers to determine where the products originated from, by way of a unique blockchain code generated at the products’ point of origin i.e. where it was produced and by whom. The system also enables businesses to keep tabs on the products they keep producing, so it’s a win-win situation in both instances.
QR codes will be distributed by the platform to a myriad of products produced by client companies, but only after they apply and sign up to the system. A blockchain platform serves as the node linking the codes together, and it’s also where consumers can learn about the life cycle and origin of their product.
The primary reason for doing all this is (according to the WWF) to give consumers the power of knowing exactly what they’re purchasing with their hard-earned cash, so they have more freedom to make the appropriate choice. How can consumers be cheated with a substandard produce if they know its source?
Likewise, the producers will be denied the power to use the complexities of supply chains to their advantage. They won’t be able to use it to disguise any questionable methods of production or sourcing. Again, consumer are at benefit here, because they can purchase food with the confidence of knowing it is what it says it is.
“Through OpenSC, we will have a whole new level of transparency about whether the food we eat is contributing to environmental degradation of habitats and species, as well as social injustice and human rights issues such as slavery.”
The press release reports that the leaders at the World Economic Forum-taking place next week in Davos, Switzerland-will be served produce that are tracked by OpenSC.
The coming future will see big plans realized for this scheme, Reuters tells us during an interview with Paul Hunyor, the head of the Asia region of the BCGDV; because the intent is to have it go beyond just food. The aim is to be as diverse as possible, venturing into areas that cover timber, palm oil and much more. Who knows just how many products we will be able to track from the comfort of our own homes? The possibilities are endless.