Whitepaper sponsored by Siemens
The implementation of blockchain technology has already had a significant impact on the financial industry. As technology advances, it appears to be ready to tackle long-standing challenges in the food and beverage sector, such as recalls due to contamination, counterfeiting, increased regulatory requirements, matching changing consumer preferences, and increased global competition. Previously, the challenges of acquiring and sending data to the blockchain in industrial settings threatened its feasibility.
As a result of these developments, it is now more important than ever for food and beverage manufacturers to embrace digital technologies like blockchain in order to increase transparency, modify products, and gain customer trust. Blockchain is an exciting, decentralized technology that has the potential to transform food supply chains by lowering transaction costs and times, improving process transparency, security, and efficiency, and fostering consumer trust to enable ultimate traceability in the food and beverage industry. Because of the widespread availability of internet connections, cloud computing, and the decreasing cost of the Internet of Things (IoT), it is now possible to successfully generate, manage, and exchange data. When blockchain and the Internet of Things are combined, they have the potential to provide immediate benefits while also transforming food and beverage supply chains from farm to table.
In this Whitepaper, you’ll learn about:
- The benefits of using blockchain technology to prevent fraud, boost consumer trust, increase savings, and how to ensure complete traceability and quality assurance throughout the entire supply chain.
- Case studies that showcase how industry-specific software, such as MindSphere IoT, provides companies with the traceability they need to prevent recalls, ensure quality control, and provide consumers with the transparency they seek.
- Application scenarios that demonstrate the benefits for consumers, retailers and manufacturers.