The promise of an unchangeable ledger

While embedding blockchain into supply chain operations is just one of many necessary ingredients of successful traceability system delivery, the uncorruptible, unalterable ledger possibilities, the unified tokenization, and the smart contracts can provide huge opportunities for traceability systems. Building a transparent system can bring back consumer trust, which was definitely lost in the last decades. According to Datamonitor, 82% agreed that “claims made by food and drink products often exaggerated or unproven”. Meanwhile, scandals of mislabeling (e.g. labeling non-organic foods as organic), contamination (e.g. 2017 Fipronil eggs contamination), and counterfeiting (e.g. the 2013 European horse meat incident) lead to declined consumer trust. With a blockchain based traceability system like TE-FOOD, countries can mitigate the damages done by such frauds.

Since TE-FOOD, as a traceability system with all related functions is ready, we just need to implement the blockchain ledger. So our token sale is different from others, as we plan to use most of the funds to grow and expand our markets internationally. Implementing a farm-to-table traceability system is a 6–12 months project with a lot of consulting, organization, and training. And while it has its difficulties, the social impacts are so tangible and overwhelming, that it turns all implementation difficulties to an interesting journey.

In the world of globalized supplier networks, and the plenty of ingredients of processed foods, the idea of a global network of transparent and accessible food information seemed science fiction for a long time. With the use of blockchain based transaction ledgers, this idea might be within reach.