Blockchain can end the food fraud crisis, but it’s a costly battle

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Food fraud siphons up to $50 billion from the global food industry every year and endangers public health. When deployed rigorously and realistically, blockchain could prevent this shadowy crime.

The problem? It comes with a high price tag. Scalability, cost, interoperability and integration pose significant barriers. Not to mention the privacy concerns, regulatory uncertainty and long path to stakeholder adoption.

But food fraud isn’t going anywhere. As David Carvalho, CEO of Naoris Protocol, observed: 

“Most people would be surprised to hear that…



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Blockchain can end the food fraud crisis, but it’s a costly battle


Food fraud siphons up to $50 billion from the global food industry every year and endangers public health. When deployed rigorously and realistically, blockchain could prevent this shadowy crime.

The problem? It comes with a high price tag. Scalability, cost, interoperability and integration pose significant barriers. Not to mention the privacy concerns, regulatory uncertainty and long path to stakeholder adoption.

But food fraud isn’t going anywhere. As David Carvalho, CEO of Naoris Protocol, observed: 

“Most people would be surprised to hear that…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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