Blockchain-backed food supply chain management solves the problem

Food supply chain management, or FSCM, has long been put forth as a low-hanging-fruit application in the enterprise blockchain space.

Food supply chains check the "Blockchain-can-fix-this" box, consisting of disparate and varied participants who would all benefit greatly from an improved ability to coordinate and an agreed-upon version of the truth.

Food supply chains also check the "Change-is-needed" box.

In Europe, which has the lowest estimated burden of foodborne diseases globally, 23 million people still fall ill from unsafe food every year, and 5,000 of them die, according to the WHO data.

Unsurprisingly, consumers are demanding more insight into the source of their food.

We produce then throw out more food than would be required to feed the hungry of the world.

In 2018 and 2019, when - somehow - every global food supply chain hadn't yet been switched to a blockchain-supported solution, the naysayers naturally claimed the technology to be a dud.

IBM's Food Trust is perhaps the most notable example.

These real-world applications of blockchain in FSCM should serve as a wake-up call to innovation managers in food enterprises of all sizes.

With the right approach, forward-thinking innovation managers in food enterprises can set up their companies to lead the change and, in the process, strengthen their business.