• Cryptocurrencies are gaining traction in the food industry

  • At the moment, the cryptocurrency industry is growing and expanding into new industries, including some that many people never expected cryptocurrency to enter. At the start of the pandemic, the crypto market even had an impact on the food industry.

    Consumers want healthier products that are GMO-free, hormone-free, and grass-fed, so food traceability has become a top concern in the food industry. Since the E.coli outbreak in U.S. spinach, the issue has gotten a lot of attention.

    Authorities are putting in a lot of effort to track down the outbreak’s source, from retailer to farmer. What drives the food industry to shift gears and enter the Bitcoin market?

    Because the blockchain allows for complete transparency of information, anyone can access it. As a result, every item that has ever been created on a blockchain cannot be modified after it has been entered, as attempts to edit something are easily detected.

    Blockchain is speeding up payment processing and distributing digital restaurant vouchers as it becomes more widely used in food safety. People want to be safe, to know where their food comes from, and to be able to trace it back to its source.

    In addition, there has been a significant shift in the meat industry, which has seen a significant increase in cryptocurrency usage. By retaining tracking data to confirm that each supply chain participant acted responsibly, they hope to improve supply chain security and provenance.

    By optimizing supply chains and digitizing and improving the export paperwork process, even higher levels of confidence are achieved. It also allows for more efficient “smart contracts” – contracts that are pre-programmed to execute themselves when certain conditions are met.

    The GoMeat platform is an online marketplace for meat.

    GoMeat is a blockchain-based marketplace that connects customers with Halal and Kosher retail meat establishments that specialize in fresh red meat, poultry, and seafood.

    Buyers of specialty meat are choosy about what they eat and are willing to pay a premium for it. As a result, a number of retailers have engaged in deceptive practices based on these consumers’ expectations.

    Specialty meat can only be purchased from certified specialized retail establishments and is not available in regular grocery stores. The platform includes an Online Ordering System that can be accessed via mobile apps and desktops.

    Individuals can use the platform to select a shop and specialty food, and then decide whether they want it delivered or picked up.

    Over 90% of specialty stores do not have the resources to go digital. GoMeat created a solution that includes no setup fees, extensive marketing, and customer service and delivery available 24 hours a day, seven days a week.

    A personalized delivery service, incredible discounts, and a rewards program are also available through the project.

    In-app Thanks to blockchain-based certification, customers and certification boards will be informed about a store’s specialty verification.

    To provide easy accountability and transparency, a blockchain-based distributed ledger will track the meat from the farm to the market.

    On June 24th, the GoMeat platform launched its pre-ICO, which quickly sold out. The project appears to be more popular with the general public, as the tier 1 token sold out in less than 48 hours. Their token has a burn mechanism in addition to the features already mentioned.

    GoMeat is the first project of its kind, catering to this underserved “niche” that is expected to generate more than $1.7 trillion in 2020 alone, and includes partner incentives as well as specialized meat certification.

    BEEFLEDGER is a platform for beef cattle.

    BeefLedger is a blockchain-based platform that combines provenance, security, and payments. It’s a blockchain-based technology platform with a wide range of applications. Its goal is to use a variety of product provenance data as the foundation for increased payment and trust among supply chain participants.

    The Australian beef supply chain is one of the most complex in the world, involving live animals, dynamic environments, and climatic variables, as well as strict regulatory regimes, transportation, and disassembly and reassembly processes.

    They provide provenance data based on customer information. They provide producers, brand owners, and exporters with a wide range of services, including brand value protection, market entry and distribution assistance, in-country digital marketing, a direct-to-consumer-commerce community, and showcasing.

    The Beefledger platform allows individuals to benefit from increased transparency and faster transactions in the beef supply chain. The platform also promotes blockchain’s ability to be a trustworthy verifier of historical states, as well as crypto-economics’ ability to drive incentivized systems that optimize supply chain behavior.

    Conclusion

    The creation of a blockchain for the food industry has already begun to transform our world. Consumers can now verify where the meat comes from and have more confidence in its origins.

    The platforms mentioned above offer distributors the opportunity to profit as well. It’s much easier to keep track of your food intake now, thanks to the cryptocurrency space, which has already improved our day-to-day activities.

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