- Company’s Hyperledger Agri-Blockchain-based system will facilitate informational transparency and efficiency within the agriculture and food industries
- Hyperledger Agri-Blockchain solution will enable food producers to pinpoint the exact origins of food contamination and launch narrow and focused product recalls
- Pacific Software’s other development efforts include Hyperledger blockchain solutions for the cannabis and pharmaceutical markets
The old adage says, “You are what you eat.” As food recalls and food-related illness outbreaks continue to make national headlines, consumers are more concerned than ever about what they’re eating—particularly where their food comes from and what it contains. A lack of transparency, data-keeping efficiency, information integrity and more within the food industry continues to exacerbate consumer insecurities regarding food products. However, one enterprising company aims to help solve these problems and bring transparency to the food chain through the cutting-edge technology of blockchain.
Pacific Software, Inc. (OTC: PFSF) is a master licensor of Hyperledger blockchain-based systems, focusing on developing systems with high throughput transaction processing, traceability or tracking, visibility or monitoring, and transparency throughout the supply and value chains. Through a working relationship with IBM, Pacific Software has gleaned deep learnings from a vast array of public and private supply chain implementations to leverage a variety of technologies.
One of the applications that Pacific Software, Inc. is currently developing is its Hyperledger blockchain-based technology, which may have far-reaching benefits for the agriculture and food industries. The use of its “Agri-Blockchain” will make it possible to track the provenance of food products from the buyer all the way back to the producer, including making available verified information regarding chain of custody and the issuing, validation and auditing of certificates.
Currently, the company’s Agri-Blockchain development efforts are targeting “farm-to-table” beef exports, with the aim of increasing export transparency and diminishing the terrifying “zombie meat” problem and health risks associated with the shipping of tainted meat. This, however, is just the launch point for Pacific Software’s Agri-Blockchain technology, which can be used to track all manner of exports and has far-reaching applications within the food industry to help ensure the safety and quality of all types of food products.
Pacific Software, Inc.’s solution will not only provide consumers with reassuring transparency and verified, tamper-proof information regarding where their food has come from; it can also save companies significant time and resources when one of their food products is subject to a recall. In the case of food contamination, for instance, this blockchain-based technology can pinpoint the exact origin of the contamination and facilitate a narrow and focused recall of affected products.
When it comes to imported food products, transparency and trust are often lacking at present. The majority of compliance data and information is currently stored on paper or in decentralized databases, leaving the data vulnerable to various informational problems, including fraud, corruption, error (both on paper and in IT systems), lack of digital record integrity (due to both human error and data tampering), double-spending of certificates and more. The current system is not only vulnerable and inefficient; it is expensive. With blockchain technology, costs are lowered substantially, and efficiency is significantly enhanced.
The application of blockchain technology can significantly enhance existing B2B integration technologies like EDI, XML and API-based B2B, providing a new shared visibility overlay for transaction and information flows. The current B2B workflow via EDI or any other B2B application is inefficient and hard to trace, lacking transparency and discouraging information sharing. It’s also insecure and prone to hacking. In contrast, integrating blockchain to B2B:
- enables shared ledgers, augmenting point-to-point communications with a new multiparty visibility overlay for information and event flows;
- is decentralized and distributed, shared by multiple parties with high fault tolerance;
- is transparent;
- facilitates immutable and irreversible transactions; and
- is faster, cheaper and better overall.
Pacific Software, Inc.’s efforts to develop a blockchain-based solution for the agricultural and food industries includes Internet of Things (IoT) integration, which is expected to allow the gathering and sharing of invaluable information about food products.
For more information, visit the company’s website at www.PacificSoftwareInc.com
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