The Malaysian Palm Oil Council and BloomBloc have developed a blockchain-based app that enables users to trace palm oil throughout the entire supply chain.
The food industry is a large, complex and global collective of businesses that is crucial for the world’s population. The food industry consists of agriculture, manufacturing, marketing, food processing and many other things. The food industry implements various technologies, including biotech, fintech and IT. The food industry is already implementing blockchain for supply chain management and automated data collection systems. Cryptocurrencies are also an important part of the future of the food industry. Today, one can buy and order food with Bitcoin on various sites and services. Bitcoin-accepting food delivery services are a part of today’s food infrastructure too. Young food start-ups can also implement cryptocurrencies into their business structure to gather funding through an ICO or to make a smart contract-based purchasing process.
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