VeChain Launches A Food Safety Solution Based On Blockchain

Ritika Sharma
Ritika Kumari Sharma is an Economics Honors graduate from the University of Calcutta. She is completely into finance and believes that cryptocurrencies are the future. She is an enthusiast learner about the cryptocurrency and blockchain technology.
  • VeChain has officially launched a market-ready, blockchain-based food safety solution.
  • It is powered by the VeChain ToolChain which is a Blockchain-as-a-Service (BaaS) platform.
  • VeChain’s most recently launched food safety solution will enable food companies to properly utilise blockchain technology and solve the major prevailing challenges in the food industry.

We are not unknown to the powers of blockchain and distributed ledger technologies. Currently, the technology is being implemented in various sectors and the food and beverage industry is just one of them. So what makes blockchain such a versatile and unique technology that everyone prefers? Blockchain or the decentralised distributed ledger technology is secure and enhances the traceability of any system. This means it keeps a check on the supply chain, thereby reducing risks, contamination, wastage and so on. Keeping this in mind, VeChain has officially launched a market-ready, blockchain-based food safety solution. It is powered by the VeChain ToolChain which is a Blockchain-as-a-Service (BaaS) platform. 

What is VeChain?

VeChain is a Blockchain platform that aims at managing the supply chain and blockchain processes using the distributed ledger technology (DLT) to streamline the management procedures for any company. The VeChain platform has two tokens. The primary token being VeChain token (VET) while VeThor Token (VTHO) is the secondary token or rather the gas token of the VeChain Blockchain platform. 

VeChain’s most recently launched food safety solution will enable food companies to properly utilise blockchain technology and solve the major prevailing challenges in the food industry.

Food Safety Solution Will Enhance Safety And Traceability Of The Supply Chains

Moreover, launch time of the food solution could not be more appropriate. Due to the corona virus outbreak, people have become much more concerned regarding their food safety. Hence, it becomes a necessity for food companies to build more resilient and transparent supply chains for the consumers. And VeChain’s safety solution may help companies to cope up with the increasing user demand for safety and traceability of products. VeChain stated that the Blockchain adoption still lags in the food industry. But with VeChain ToolChain, the ready to use blockchain applications can be used quickly to solve problems of the business needs. 

In addition the companies will gain exposure to the world’s finest third-party services including DNV GL,  PwC, Deloitte and many others through VeChain global partner network. In return this effectively reduces the cost required for certification, insurance and financial services involved in supply chains. VeChain’s new tool will contain an exclusive suite of whitelabel services that will enable companies to implement management services. 

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