The Day We Started To Drink Blockchain

Today we can know all the path that the coffee we drink has gone trough

Photo by Artem Sapegin on Unsplash

On previous occasions, I have mentioned the exciting future that the development of new technologies holds in our lives and the blockchain represents an opportunity to transform our present and future for better.

The food industry is a sector that has evolved in various ways since the first industrial revolution, however, the market does not stop evolving and it is thanks to the power of the consumer that innovation in business models is promoted.

Supply chains within the food sector have long been characterized by hiding information from the end consumer and delivering products that can represent health hazards.

In other articles, I have had the opportunity to explain that many foods that are marketed today represent canned drugs, that is, their design and manufacture are aimed at keeping consumers’ taste and consistency above the benefits of a good diet.

Knowing the path trough blockchain

Photo by Niclas Illg on Unsplash

Consumers are currently concerned about the origin of their products, the inputs used, the quality of life of those who participate in production processes, and the general quality of the processes.

Until a few years ago it was not possible to know reliable, accurate, and transparent information about the products we consume because absolute control of the data was in the hands of manufacturing companies and supermarkets. But the efforts continue and the interest to demonstrate that the products are of quality is increasing.

Some months ago, some leading companies in the coffee sales segment began to inform their consumers of the true origin of the products they consume thanks to blockchain technology.

The agricultural sector has begun its implementation in different countries and in the United States, companies such as Starbucks have begun to make an important effort to communicate the origin of the products to their consumers.

The traceability of the origin of products is possible thanks to initiatives such as the IBM Food Trust, which is precisely responsible for carrying out the technical implementation to allow each of the steps followed in the supply chain to be identified and easily communicated to consumers.

Ecuador, for example, has joined this initiative of the IBM company to generate confidence in the products it markets and will surely represent a benefit in the market because it will have a differentiator from the rest of the products as it is certified with blockchain processes of absolute transparency.

Certifying reality

With this type of initiative, a field of opportunities is born for the indicators of trust in companies, such as the case of ISO quality standards.

Another very relevant example of this is the collaboration between Starbucks and Microsoft to join the party of innovation for the benefit of consumers by using technology to trace the trustworthy history of the coffee they sell to their consumers.

Having the support of a technological certification in supply chains is the future of production processes and in a very short time companies will begin to implement it as a minimum requirement of permanence in the market.

The advantages are wide, given that people can know in detail the characteristics of the products consumed and incorporate them into their diet in a reliable way, especially considering that there are many people with health problems who must comply with a specific nutritional agenda.

The benefits will undoubtedly include people’s health, access to products at a fair price, and, without a doubt, a sector that will be based on building reliable processes that will lead to healthy competition for the benefit of the end customer.

The day when we will start to drink and eat blockchain has arrived, and it is something that nobody harms, on the contrary, there is finally hope of buying food with the confidence of obtaining a real benefit for its consumption.

We will have access to the refrigeration times, the type of bactericides used in the food, the quality of the work carried out by the people involved in the production process as well as the certification of the nutritional information expressed.

The foregoing will allow continuous improvement in a more objective way so that companies can achieve profitability through sustainable business models and the generation of value for their customers.

Among other aspects, companies will also be able to reduce their losses because they will not have blind spots in their production processes that affect their cost of production, which translated into higher sales prices for consumers.

Efficiency and profitability

With blockchain technology, consumers will obtain previously unknown information about the products they consume and companies will be able to provide advice and security measures to obtain more value for the money invested in purchases.

It is a scenario where everyone wins, companies benefit from having a happy market because it will represent the demand for reliable products and there is long-term economic sustainability thanks to business models based on efficient processes.

The weapon companies have to improve and compete in their ability to process and convert information into decision making to reduce costs and increase profit margins to benefit their capital structures.

It seems that investments in blockchain technologies are becoming increasingly relevant due to the benefits they represent for all the participants involved and this will undoubtedly require a higher level of standardization for providers of companies certified by blockchain technologies.

Final thoughts

The transparency of consumption is the right of people when we talk about something as important as food products. At the moment, follow-up implementations are beginning in sectors that are very important for the well-being of the human being.

But it is perfectly feasible to think of blockchain technologies covering processes in the financial sector, land transport, or air transport with high levels of precision and confidence.

The information will be available as it has never been seen before, including talking about the age of the internet, because unlike what we could find on different websites with false information, blockchain technology will allow us to read the whole truth depending on the sector being analyzed.

But this is a new opportunity to correct our course with the creation of social, business, political, and economic models with better foundations based on objective information with little source opacity and much support.

We are probably facing the best opportunity to take advantage of information technology tools and to address underlying social problems.

I hope you liked the information, thank you very much for reading.



Master in Financial Management, Writer, Academic and Entrepeneur.

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Alonso Colin

Master in Financial Management, Writer, Academic and Entrepeneur.