The Blockchain Revolution
Jul. 6 2018
Making complete traceability possible
Imagine a future in which the consumer can walk into a store, use their smartphone to flash a code on a product, and see its complete history at a glance: where it comes from, how it’s been made, and how its safety and quality have been ensured.
The Blockchain is now making this possible. Through its innovative technology, each member of a supply chain network can see every transaction. For example, a food processor or retailer in a supply chain can see and call out any anomalies upstream, and vice versa. And before a transaction in the supply chain is validated, a consensus by the network is required - now every member of a supply chain network, all the way to the consumer, is reassured with complete traceability.
For a blockchain to deliver total traceability, the participants’ identities must be verified to guarantee their liability. This requires a third party or consortium to handle identity verification and management. Data entry processes and interfaces also need verification to certify that real-life situations are correctly and fully documented. This includes the appropriate checks to ensure that members cannot collude outside the blockchain to validate fraudulent transactions. As a recognized independent third party with expertise throughout the food supply chain, Bureau Veritas is a natural choice to put a blockchain network in place and devise the appropriate systems of governance.
Learn more about the innovative solution that a blockchain offers and how Bureau Veritas is leading the way in helping the food industry move forward with this revolutionary technology when you download the report.