The Currency Analytics
By Ayobami Abiola
Topical matters Discussed
Traceability of Food and Food materials
Interoperability of Data and Trust
FDA considers Blockchain Technology
Blockchain Solutions FDA can consider
Xinfin Blockchain- Kramaa
Gochain's Gotrace
July 13th, 2020, the United States Food and Drug Administration- FDA released a blueprint and pilot study to launch a new era of a smarter food safety initiative.
Food needs a system that can adequately trace its journey to the source. The study identifies that the records involved in moving food through the supply chain are mostly…
The study also stated that there is a need for a system of data sharing between authorities in the industry. One which can be trusted, adopted, and acceptable by all stakeholders.
One exciting fact for the blockchain ecosystem is that the US FDA considers blockchain technology as a good option to be looked into to help in their pursuit.
There are blockchain technologies that are forward-thinking and have implemented solutions for food security in their framework. Here are two of them:
Built as a hybrid blockchain with the public and private blockchain properties, Xinfin is an enterprise-ready network for trade financing.
GoTrace is a cutting edge solution that was recently released by Gochain blockchain to enable traceability of items.