A blockchain-based food traceability platform built to enhance transparency in food supply chains and empower stakeholders to follow sustainable practices.
Consumers today, due to increased health awareness, are showing much interest in knowing the place of origin of their food. The food industry is also suffering due to traditional practices in the food supply chain and other problems like lack of end-to-end visibility, counterfeit goods, damages during transportation, and the fluctuating demand in the market. With consumers' increasing desire to eat healthy food and the inefficiencies in the food supply chain, agribusinesses are now looking to adopt a technology to help them improve food safety and quality, and increase transparency across the entire food supply chain.
Mindtree architected and developed a blockchain-based food traceability platform – ‘Farm 2 Fork’. It is a decentralized, democratized, and transparent solution that provides complete visibility in the food supply chain. The platform will enable consumers to trace a product’s origin, thus increasing satisfaction. It will help the agribusinesses detect counterfeit goods and fraud transactions and efficiently trace a product’s origin, reducing the paperwork. In case of loss or damage of goods, companies will be able to quickly track when and where the damage has occurred and improve their dispute management. The principal benefactor of this platform would be the farmers because payments and settlements will be made once the goods are shipped without waiting till the product reaches the end consumer. With the increased transparency, insurers and finance providers can also be onboarded quickly to manage the risk during transportation and support the farmers.
