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Deloitte is an accounting organization and a network of professional services. They say that an innovation in data technology familiar with the name of Blockchain will help improve their product supply chain.
The company claims that traditional supply chains require changes to meet the demands of increasing global expectations for beef. As with Deloitte, there should be end-to-end traceability, along with guarantees of quality and safety. Subsequently, things will improve to easily record and check the status of technical data.
In a recent publication authorizing "Beefing up Blockchain", Deloitte suggests the method to achieve this with the use of Blockchain. This will be a data recording system with a highly secure and compatible design. Furthermore, this technology has integrated measures to protect data from alterations.
The Deloitte report also points to the beef industry in Ireland. Furthermore, it covers the overall benefits that Blockchain can bring to the industry. Counting the benefits, the report mentions the following salient points:
- Reduce costs in the supply chain,
- Achieving better communication of data,
- Improve quality assurance,
- Simplify the import and export processes
Deloitte believes that protection and traceability will reach a certain level of advancement using this technology. In addition, the report specifies that the "innate" transparency of Blockchain will allow traders to observe standards and agreement procedures. Furthermore, this will help data files to achieve a simpler verification process.
Finally, this will give farmers greater transparency in a sector of the food chain. Subsequently, they may have the authority to access valuable information. However, the report mentions the application of technology must be seamless to meet expectations.
Summary
Item name
Deloitte says the Blockchain technology could revolutionize the beef supply chain
Description
Various organizations are putting their hopes in a blockchain technology like Deloitte that believes in the blockchain to transform the Irish supply chain.
Author
Delma
Publisher name
Coinpedia
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