Vechain ensures the sustainability of the food chain

Vechain ensures the sustainability of the food chain

By Marcello86 | What is vechain | 7 Jun 2020


The exact origin of many food products worldwide is often unknown, as is the process of how it is made. A good example of recently launched projects are the "catch of Norwegian Salmon" and "tracking of food products by Walmart".

Kvaroy Artic (Norwegian Salmon)
Kvaroy Artic a major exporter of salmon has partnered with IBM's Food Trust. Which also has a collaboration with Vechain. The goal is to achieve transparency and sustainability in the food chain. To achieve this, all available information from catch to processing is stored on the blockchain. This includes living conditions, age, day of catch and the conditions where the fish lived. The information will be made available through QR codes on food products that are scannable.

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Another important reason to use blockchain is to end fraud. According to a survey conducted by the Oceana company, one third of the labels on food products are incorrect. As a result, many products are sold at a higher price. Kvaroy Artic believes that using this technology will end fraud in the seafood industry.

Walmart and food tracking
Sam's Club, a "daughter" company of Walmart, has partnered with Vechain. The company has nearly 3 million customers and is still growing significantly fast. It is expected that at the end of 2022 another 22 branches can be opened in their own country.
Both companies will work together to make the food chain more sustainable. Vechain's supply chain management platform (Blockchain) is used.

To make the project successful, the company PricewaterCoopers (PwC) will help develop the platform on the blockchain for Sam's Club. The goal is comparable to the project "Norwegian Salmon" by Kvaroy Artic, namely transparency throughout the food chain, prevention of fraud, sustainability and also the guarantee of food safety.

When the platform is ready, customers will have access to detailed information of the food products on the blockchain. Scanning a QR code with, for example, a telephone shows the origin of the food products. In recent years, the customer in the supermarket has become increasingly critical of the products that he has said to purchase and the food industry is able to respond to this by using this technology.

Vechain
Vechain is a blockchain solution that supports smart contracts and is one of the first cryptocurrency technology companies in the world. The company was founded by CEO Sunny Lu in the year 2015 and launched its Initial Coin Offering (ICO) in August 2017. Vechain started on the Ethereum platform and launched its own blockchain in June 2018.

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VeChain currently operates out of seven offices located in Shanghai, Singapore, Paris, Luxembourg, Palo Alto, Tokyo and Hong Kong, with the international professional team of over 100 staff members including over 50 professional blockchain application developers. An important goal of Vechain is '' guarantee end-to-end product control using blockchain technology.

Good news
Vechain Toolchain Launched !! for more information see https://vetoolchain.com/

Also interesting:

Solutions in the Retail:

https://www.vechain.com/solution/retail

Solutions in Agriculture:

https://www.vechain.com/solution/agriculture

Solutions Food industry:  

https://www.vechain.com/solution/productassurance

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What is vechain
What is vechain

what is vechain? Vechain is a blockchain solution that supports smart contracts and is one of the first cryptocurrency technology companies in the world. The company was founded by CEO Sunny Lu in the year 2015 and launched its Initial Coin Offering (ICO) in August 2017. Vechain started on the Ethereum platform and launched its own in June 2018 Blockchain. Main purpose of this is to solve the problems of counterfeit goods in the market worldwide. More interest in this project see https://www.vechain.org

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