The South Korean government announced that they would be launching a blockchain solution designed to transform the food industry.
A joint program between the Ministry of Agriculture and the Ministry of Science will be launched in December in order to track the food supply chain in the beef production industry. This new program (still in its trial period) will replace the current paper-based system, saving vast amounts of time and money in the process. Additionally, it will also assist in advancing security measures by reducing the risk of forged paperwork.
With the food supply chain pilot South Korea has proved its dedication to blockchain yet again. Just recently, they’ve announced that in 2019 they would be designating $4.4 billion to eight critical sectors, and blockchain technology was one of them. From healthcare, banking, and now food, blockchain is becoming a major tool in streamlining production and enhancing security throughout various industries.