Would you like the food you and your family eat to be safe? The answer is obvious – but guaranteeing food safety is not as simple as it might sound.
At some point, the food that ends up on your dining room or restaurant table will be delivered on a truck. The transport of food products by truck, especially perishable foods, is the most critical and complex phase in the global food supply chain process. Chain of custody traceability, real-time tracking visibility, document integrity, and food quality assurance are just some of the major challenges still vexing the global food supply chain.
Restaurant chain Chipotle learned this the hard way. In 2015, more than 50 people fell ill due to an E. Coli virus outbreak at dozens of its restaurants. The scattered nature of Chipotle’s food sourcing model made it nearly impossible to track down the origin of the tainted ingredients quickly, preventing the company from stopping – or at least containing – the outbreak in a timely manner. Ultimately it took weeks to trace the source of the outbreak. Chipotle’s share price quickly dropped 42 percent.
A blockchain platform such as the one being developed by LaneAxis might have stopped the outbreak in its tracks almost immediately after it was discovered – potentially in a matter of minutes.
By applying blockchain technology – such as the LaneAxis platform – to food supply chain management, companies and suppliers can validate with certainty where a food product was grown, handled, stored, and inspected. When the food product is transferred from one party to the next, the action is logged in the blockchain and would include such critical information as proof-of-pickup, product location, date, quantity, and proof-of-delivery to the next party in the chain. All of this data would be stored on the blockchain’s immutable ledger, enabling all vested parties to immediately trace every ingredient back to its place of origin. The decentralized nature of the distributed ledger would make it impossible for anyone to manipulate the data.
Chipotle is certainly not alone when it comes to solving crisis-level supply chain challenges. The World Health Organization (WHO) estimates more than 400,000 people across the globe die every year from contaminated food.
LaneAxis has already run pilot programs with some of the largest grocery chains in America interested in learning more about the LaneAxis solution. The LaneAxis blockchain aims to achieve transformative results for logistics control and automation across a multitude of industries – including of course the global food supply chain. The LaneAxis platform will enable shippers to conduct, manage and track transactions across the entire shipping supply chain and digitize all processes. It will dramatically improve inventory management and save time and money across all channels.
A recent study by Chain Business Insights touted the immense potential of blockchain-based applications to transform the global food supply chain for the better. “It’s not a question of whether they will be implemented – but when,” the study concluded.
The public presale of AXIS tokens is currently underway and offers a discount for for early contributers. The public sale will commence in September 2018.
To find out more about the LaneAxis blockchain project and to purchase tokens, please visit laneaxis.io
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