Deloitte is an accounting organization and a professional service network. They say that a data technology innovation familiar with the name of Blockchain will help in enhancing their supply chain product.
The company claims that traditional supply chains require changes to meet the demands of growing global expectations for beef. As per Deloitte, there should be an end-to-end traceability, along with quality as well as safety assurances. Thereafter, things will improve to easily record and check the status of technical data.
In a recent publish entitling “Beefing up Blockchain,” Deloitte suggests the method to attain this with the use of Blockchain. This will be a system of recording data with a high security, compatible design. Moreover, this technology possesses in-built measures to secure data from alteration.
The report by Deloitte also aims on the beef industry at Ireland. Moreover, it covers the overall benefits which Blockchain can drive to the sector. Counting the benefits, the report mentions the following highlights:
- Reduce Costs in the supply chain,
- Achieving enhance data communication,
- Improve in quality assurance,
- Streamline import and export processes
Deloitte believes that protection and traceability will reach a certain level of advancement using this technology. Further, the report specifies that Blockchain’s “innate” transparency will let traders observe an agreement standards and procedures. Moreover, this will help stores of data to reach an easier audit process.
Lastly, this will offer farmers to live with greater transparency in a domain of food chain. Thereafter, they can have the authority to access valuable information. However, the report mentions the technology application must be seamless to attain the expectations.