The South Korean authorities will implement blockchain technology in beef tracing process to provide consumers with information from the food supply chain.
The official launch of the system is scheduled for January 2019, the testing phase is to be in December. The pilot program will be launched jointly by the Ministry of Science and ICT and Ministry of Agriculture, Food, and Rural Affairs.
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%.