In the past few years, you must have heard about terms like Bitcoin and cryptocurrencies. Blockchain as many of you would know was the driving force behind the popularity of Bitcoin. The success of Bitcoin showed immense opportunities for other industries to grow using Blockchain technology.
Blockchain, in general, is a growing list of records, often called as blocks linked via Cryptography. It is used to verify the authenticity of the asset which is being added in the network.
The set of linked transaction or assets is often called Blockchain.
Though it has found its usefulness in many industries, its impact on the food industry is positive in many ways.
This is why businesses are shifting their focus to developing applications that could make it easier to revolutionize the activities of the food industry. Controlled by a series of computers rather than an individual, it is easy to keep information safe and secure.
Key Concepts of Blockchain
- • Shared Ledger
Transactions are recorded only once in the shared ledger. This removes the confusion caused by the duplication.
It records all your transactions. The transactions of assets are shared among all participants.
The participants in the network can view only those transactions for which they are authorized.
- • Permission
You can prevent certain participants from viewing specific transactions. This helps in maintaining security and makes sure only authentic participants in the network have access to a certain piece of information.
- • Consensus
Transactions in the Blockchain are only possible if there is a consensus between users in the network. Thus it makes it more secure and feasible mode to include in your business operations.
The Roles of Blockchain Participants
- • Blockchain user
These are the people who join a Blockchain network and carry out transactions with other users in the network.
- • Regulator
A regulator is a use which has special permission to supervise all the transactions occurring in the network.
- • Blockchain Developer
Blockchain developers are the people who create the apps and the network on which transactions and other processing work.
- • Network operator
It consists of the people who have the authority to manage, form and observe the Blockchain network.
Blockchain Mobile App Offers Various Benefits for Food Industry
Blockchain technology offers various opportunities for various businesses related to the food industry. From simplifying the information access to easing out the entire process of the supply chain, till dispatch of food items, the technology has many benefits.
Have a look at it below.
- • Tracking of Food Items: With Blockchain technology the tracking of food items is very easy. Barcodes, QR code makes the job much easier for companies. Moreover, businesses can regulate who gets access to see the information of products.
- • Prevents Fraud: The strict security measures protect the transactions and information from frauds, and data tampering. With food tests, the possibility of detect of foreign matters in the food items could be detected, along with minute details like a batch of food, timings for execution, etc.
- • Food Safety: The mobile app could be loaded with features which allow you to get an update on your business issue in a few seconds. Thus it prevents food items from going waste. Moreover, you can get track of contaminated foods and safe foods.
- • Faster payments: Blockchain makes payment not only secure and faster as well. An app could make your business free from the hassle of delay in payments due to cross-checking which used to happen in traditional ways of industry.
- • Product Information: Product information is essential if you want to keep a track of all the information including the product price, and other essentials, in short, called product labelling. A mobile application can ease out the process by allowing only reliable suppliers to enter the chain.
- • Tracking of Food Volumes: Customers or suppliers can easily have information about food volumes bought and sold for each member in the supply chain. Thus, there is no need to have a central authority that needs to be trusted.
- • Reducing Expenditure: Blockchain reduces the expenses by removing the intermediaries so that participants can directly do trade with each other. Thus efforts to accomplish a task get reduced significantly.
- Better Privacy
User IDs and permissions allow users to choose which transaction details are required. Thus a user can have better privacy and thus it builds the trust of users.
Blockchain technology is one of the most sought after technologies which can benefit various industries. Specifically, if we talk about the food industry, there are many areas which could be improved.
Many top brands like Unilever, Amazon have included Blockchain to a great extent.
This is why Top Mobile App Development Companies like us lay emphasis on Blockchain mobile app development with our expert pool of Blockchain experts having fuelled various Fortune 500 companies.
Have an app development requirement? Contact us by visiting our website.
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