Aug 6, 2018
Listen now as Marton Ven talks about how blockchain is revolutionizing the food industry!
Wow, the future is coming fast! In this On The Brink podcast, Marton Ven and I talk about the growing, global use of blockchain to ensure that the food you are buying is the food you think you are buying. How? Through farm-to-table traceability technology. Marton is Chief Marketing Officer for TE-FOOD International in Germany, which has become a world leader in the application of blockchain technology to the food industry. Grocery shopping will never be the same. Hear why.
Integrating all steps of the food delivery process into one ecosystem
TE-FOOD is the only fresh food ecosystem which integrates food producers, wholesalers, retailers, veterinarians, supply chain companies, consumers and government authorities in order to improve food safety, eliminate food frauds and decrease costs of the supply chain companies. By providing cost-effective software and identification tools, TE-FOOD aims to make livestock and fresh food supply information transparent.
Piloting a blockchain approach among Wyoming beef ranchers
Wyoming ranchers believe that their premium, grass-fed cattle produce a much higher quality of beef which is particularly lucrative when sold to foreign markets. But how can you know you're getting Wyoming beef for your money rather than just “manufactured” beef? TE-FOOD's technological solution is to tag cattle through RFID (Radio Frequency Identification) ear tags and anchored blockchain technology.
TE-FOOD's traceability technology is also being used in Vietnam to verify the origin of imported Australian beef, and in South Africa, to correctly identify poultry and eggs.
What is blockchain and how does it apply to my food?
Think about putting a mark on something—food, in this case. This mark goes into your “block,” a secure computer ledger that only you control. Once installed on that ledger, the mark grows as your chain of blocks grows. Since this blockchain can never be changed and can only be released by you to someone else, it becomes your personal chain of secured items of value, of any type, and totally decentralized.
When you move or sell that object—cattle, for example—to another ledger or block, you release that information to the new computer ledger.
So as cattle move through the process of being shipped for slaughter and then turned into steaks or burgers on your table, the original blockchain code stays with that meat. You can scan the code on the label when you buy the meat so you can know where it came from, exactly.
But this is just the beginning of what blockchain can do and how it can benefit so many aspects of our daily lives. It's an exciting new world coming at us, fast. Are you ready?
Lots of ways to learn more about blockchain
How to capitalize on fast-changing times and not be left behind
If the fast pace of change is unsettling you, have no fear. It feels like it's coming faster but really, the pace is no different today than in the past. You just need a way to adapt. At SAMC, we know that change is literally painful. This is why we help companies drive change rather than waiting for a crisis to force needed change.
Blockchain is a great example. It may change the way the entire world buys, sells, distributes and identifies food. Perhaps it will eliminate the need for credit cards, banks and even Western Union wire transfers. Who knows how many processes it's going to disrupt. Time will tell, but so far it looks like it could make you a lot more secure and your valuables a lot more valuable.
Stay tuned. More changes coming soon.
In this podcast, Marton and I talk about:
Download the 1-page synopsis of my book, "On the Brink: A Fresh Lens to Take Your Business to New Heights" here