The South Korean government will use blockchain technology to track meat and provide consumers with information on the food supply chain, Yonhap News Agency, the largest news agency in South Korea, said yesterday, November 20.
Blockchain technology has been implemented in the pilot program that will be jointly launched by the Ministry of Science and ICT and the Ministry of Agriculture, Food and Rural Affairs. The test phase of the program is scheduled for December and the official launch of the system will be in January 2019.
According to Yonhap, ministries are planning to use distributed ledger technology (DLP) to monitor meat through the supply chain to provide consumers with information about the source of their food. " The article also states:
"The new platform uses blockchain technology to store information and related certificates in the distributed ledger to improve efficiency and credibility."
The use of blockchain technology to track agricultural products is one of the common implementations of technology worldwide. In August, the largest grain exporter in Australia, CBH Group, collaborated with a local startup to use the blockchain technology to monitor oat shipments.
Last month, the four largest farms in the world – Archer Daniels Midland Co., Bunge Ltd., Cargill Inc. and Louis Dreyfus Co., commonly known as ABCD – agreed to use blockchain and artificial intelligence (AI) technologies to reduce costs and make the exchange more efficient and transparent, Cointelegraph reported on 25 October.