A blockchain/IoT combo could reduce food fraud by $131B in five years
Using blockchain and IoT tracking technology to trace the journey food takes from farms to grocery store shelves will "revolutionize" the food industry, reducing retailers' costs by streamlining supply chains and simplifying regulatory compliance, according to a new study by UK-based Juniper Research.
The report said blockchain's immutable ledger, combined with IoT sensors and trackers, is key to creating a more efficient food recall process.
Food fraud relates to mislabelled, diluted or substituted food and ingredients.