In China there are problems in the food supply Can Blockchain help in this problem ?.
At present there is an investigation, where the technological arm of Chinese insurance company ZhongAn was developing a blockchain platform. Not for insurance, as you would expect. This will help you trace the origin of the chicken. It is an entire provision of technology at the service of food.
While this marks a priority for the Chinese company, which is partly owned by Alibaba, Tencent and insurance giant Ping An, the launch will join a growing list of blockchain projects aimed at improving China’s food safety record .
In recent years, the country has been hit by a series of scandals involving contaminated products and supply chain fraud, so initiatives to improve the reputation of the industry are emerging from a wide range of public and private entities . This particular project, however, is especially intriguing, not only because of its potential impact on agriculture, but also because of its timeliness. That is to say that much is expected of its performance.
The following is known, earlier this month, the US Department of Agriculture proposed allowing China to export domestic chicken to the United States. Beyond opening a potentially vast market for Chinese exporters, this move could help bolster China’s bid to strengthen its global presence.
There is no doubt that the impact will not only be felt in the export market. Improving consumer confidence in Chinese products will also affect domestic sales and could help improve trust in institutions.
It is mentioned that trust is very important in the food market. The impetus is much needed: a 2015 Pew Internet Research Survey revealed that more than 70% of Chinese citizens were concerned about food safety, almost three times more than in 2008. Although not part of the list of concerns , This malaise is associated with corruption, contamination and inequality, food safety is above unemployment, health care and working conditions.
The urgency is also reflected in statements by the Communist Party of China. The influential “Central Document No. 1”, the first policy statement of the year presented by the Central Committee, established agricultural innovation as a priority, specifically mentioning quality monitoring and standards. This could point to a significant level of official support for current and future food supply projects that investigate the potential of the blockchain.
Undoubtedly, beyond the convincing argument to reduce the risk in people’s daily food consumption, we can see the emergence of an interesting strategy. Given the efficiency of technology in tracking source and improving supply chain transparency, it is easy to see how blockchain projects could enhance China’s reputation in this field.
So there are benefits to society. However, the vision seems to be more than just catching up. The level of development work focused on this use case suggests that the strategy can be “overcome”. If China’s food producers and distributors can take advantage of the improved level of confidence that blockchain technology offers, it could become an agricultural power not only for its growing population but also for export.
Given the size of the potential market, the economic impact could be enormous.
In addition, the relatively easy scalability of blockchain projects will alleviate the pressure on the various platforms as they expand to accommodate the growing demand for clear food security measures, both at home and elsewhere. Last week, for example, China and the European Union launched a joint project to combat food fraud. Other international collaborations are likely to follow.
Therefore, while the development of ZhongAn is young, it is part of a more encouraging scenario: the expansion of blockchain technology applications to deep problems affecting the welfare of a society. Because, apart from the economic advantages, a more convincing benefit lies in the final product itself. After all, there are few more important things to feed people safely.
In short, blockchain technology has a potential that is only perceived, when the companies in union with the developers come together to find solutions to tangible and intangible problems. New ads are expected.
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