The South Korean authorities will implement blockchain technology in beef tracing process to provide consumers with information from the food supply chain.
The use of blockchain tech for tracing agricultural products is one of the common implementations of the technology worldwide. In August, Australia’s largest grain exporter, CBH Group, partnered with a local startup to use blockchain tech for tracking oat shipments.
Also in August, global food and retail companies, including Nestlé, Unilever, and Walmart, was collaborated with IBM’s to explore how blockchain technology can to improve traceability in their supply chains. IBM noted that the use of blockchain technology can reduce the cost of the average product recall by up to 80%.