Between 2014 and 2016, the venture capital community poured around $1 billion into various blockchain startups
In supply chain applications, subsequent stakeholders, for example, retailers, would contractually be permitted access to agreed-upon data in the previous blocks, such as product origin, temperature control or other business-critical information, providing them with important visibility into supply chain operations. Between 2014 and 2016, the venture capital community poured around $1 billion into various blockchain startups relating to blockchain technology, with promises that it will make transactions more efficient and secure, ensure food safety, and reduce product counterfeits. A technology able to reduce the environmental impact, tracking the origin of production, fair working conditions and measuring resource consumption should be a given choice integrating into the value chain. It doesn’t get any better.
In 2015, we introduced the project Green Food Interactive, a blockchain adapted solution for the supply chain doing just all that.
A sustainable solution we ended up presenting before the Research Institute of Sweden who did engage with us and sent an application to the European Commission Development funds. Unfortunately, the European Commission rejected the project cause blockchain were too early and now, five years later with blockchain on everybody’s lips we still haven’t seen any progress in the supply chain.
Instead, I encountered organisations talking about nudging and other great projects addressing food waste. In France, my friend Arash Derambarsh as a local politician took some actions and passed a notion into government prohibiting stores to throw the food passed due date. The french assembly voted unanimously in favour, inspiring some other countries to do the same. In Sweden, new goals were decided to reach sustainability 2030 focused on reducing the emission of greenhouse gases by 50%. Still no projects within the blockchain.