Omnichain Solutions in the News: Blockchain is gaining significant momentum, proving to be much more than just hype for the food and beverage industry. Last year, the number of new enterprise blockchain projects in the sector nearly tripled from the previous year, according to a report published by ESG Intelligence, India, as more brands are taking active steps toward building safer, more transparent supply chains.
Many of pilot programs have been put in place to enhance traceability and support food safety, recall mitigation and sustainability efforts.
As blockchain projects evolve beyond proof-of-concept trials to real-world applications, the industry is just beginning to scratch the surface of the technology’s potential. With blockchain-as-a-service (BaaS) models now available, companies of all sizes are exploring new ways to build trust between parties in their value chain and extend that trust to consumers—ultimately strengthening the food marketplace.