Traditional industries can’t do without blockchain either. Centralized production and logistics management systems will be replaced by their blockchain-based analogs. Blockchain has potential in industries existing for many centuries. Here are food and industrial production, logistics, etc.
Blockchain and traditional businesses
Organization of complex production processes. Each step is recorded in distributed network. This prevents equipment failures or optimizes the inefficient producing sections. Of course, production automation systems have long existed. But blockchain technology makes them more transparent and protected against both human errors and data loss.
For example, in food production. Attention to composition, purity and health benefits of food is highly increasing. How can producers make sure they buy quality raw materials for food production? How can consumers protect themselves from counterfeit products? Product tracking systems solve these tasks. They track food from a farm to a consumer’s dining table. And blockchain with its transparency and immutability allows participants of the food industry to trust each other as much as possible.
IBM Food Trust is one of the most famous projects in this field. The platform brings together farmers, processors, manufacturers, distributors and retailers. IBM Food Trust has already joined the largest players in the food industry — Carrefour, Nestle, Dole Food, Kroger, Walmart, and Unilever.