Blockchain in Supply Chains: Tracking Food, Diamonds & Beyond

Firms today implement blockchain to track products end-to-end. They aim at food safety, luxury items, and infrastructure.

Walmart and IBM track fruits such as mangoes, spinach, and leafy greens. They reduce recall from days to seconds. Consumers scan packaging to see origin information via QR codes. It enhances safety and reduces waste.

De Beers follows diamonds from mine to consumer. Their Tracr product authenticates each and every stone and confirms conflict-free origin.

Everledger possesses an immutable record for over a million diamonds. Opsydia marks luxury goods with nano-ID tags that reference blockchain data.

OpenSC follows tuna and beef through WWF-supported blockchain. Purchasers verify origin and sustainability in real-time. Scantrust injects safe QR codes into luxury items and foods for anti-counterfeit traceability.

Experts attribute blockchain to less fraud. SupplyChainTalk has documented a 30% decrease in fraudulent letters of credit.

Research by academics confirms that blockchain ensures traceability, and accountability, and minimizes food fraud.

Deloitte utilized the implementation of blockchain and IoT to track shipments in real time. They boosted transparency for logistics networks.

Blockchain currently protects food, diamond, seafood, and luxury supply chains. It enhances security, authenticity, and efficiency by sharing tamper-proof ledgers.

While it is being widely used, coupling with IoT and AI could potentially go even further through international trade.