A blockchain technology pilot aimed at tracking beef through the entire food supply chain has been announced in South Korea. The pilot will be jointly undertaken by the Ministry of Science and ICT and the Ministry of Agriculture, Food and Rural Affairs, according to Yonhap News Agency. The launch date has been set for next month in North Jeolla Province and after a brief trial period, there will be a formal unveiling of the blockchain application in January next year.
Currently, a paper-based reporting system is used to track cattle from birth to slaughter and then from the packaging of the beef to distribution to consumers. This system is time-consuming and resource-intensive besides not being fraud-proof since there is a risk of forged certificates. The blockchain-based system is expected to enhance efficiency and prevent fraud due to the immutable nature of distributed ledger technology.