Blockchain or bust for the food industry?

Martindale, Wayne and Hollands, Tom Æ and Swainson, Mark and Keogh, John G. (2018) Blockchain or bust for the food industry? Food Science and Technology, 33 (4). ISSN 0144-1493

Full content URL: https://www.fstjournal.org/features/32-4/blockchai...

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Abstract

There has recently been a wave of enthusiasm for applying Blockchain technology in the food sector. This article aims to clarify many of the questions surrounding Blockchain technologies, in particular: is Blockchain the future for the food industry and therefore does my company need a Blockchain? Traceability has been achieved for many years using systems that connect core business processes with strategic management of product and supply chain data, namely Enterprise Resource Planning (ERP) platforms. Companies must determine what Blockchains can offer that is different from existing ERP systems and what is the value of using them. Working within a secure cloud platform is mainstream today but this was not the case five years ago.

While ERP systems have significant benefits that can be realised, they are often very expensive to implement, with the cost of implementation linked to the operational complexity. The full costs can range broadly from £150,000 to £1,000,000+ and therefore are prohibitive for many SMEs, which make up 96% of the UK Food industry.

Keywords:Blockchain, sustainability assessment, food manufacturing, food retail, food traceability
Subjects:N Business and Administrative studies > N240 Retail Management
D Veterinary Sciences, Agriculture and related subjects > D633 Food and Beverage Technology
Divisions:College of Science > National Centre for Food Manufacturing
ID Code:34579
Deposited On:17 Jan 2019 15:19

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