Switzerland's largest retailer adopting blockchain
Blockchain is becoming a more highly adopted form of tracking things such as food within supply chains. Currently, Switzerland's largest retailer is preparing to track their food supply chain using TE-FOOD. This is significant because while many people are still unfamiliar with the technology, larger companies are investing heavily in it to streamline their success and capture more market share with the idea that their produce is top of the line and monitored carefully. This pushes retailers to the forefront and gives them a significant competitive advantage: "While many food companies are using blockchain technology for supply transparencyMigros is looking to optimize for “quicker distribution and reduced food waste.” That meshes well with the European Food Safety Authority’s (EFSA) latest initiatives to cut down on food waste and to improve food safety. "
Traceability allows consumers to see transparently that their produce, product or item that they are spending money on is safe, secure and top of the line. This is the advantage of blockchain technology and why it is a great advantage to invest in this now.
To read more on Switzerland's action in this medium, see the link below.