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HashCash Partners with Global Food Manufacturer to Fight Food Fraud

USA based Software Company HashCash Consultants collaborates with a global food manufacturer to help them prevent food counterfeiting via Blockchain-based supply chain network

PALO ALTO, Calif., Feb. 14, 2020 /PRNewswire-PRWeb/ -- HashCash Consultants, extend their Blockchain expertise to a US-based Global food production and distribution company to build a transparent, traceable and immutable supply chain network. The idea originated from the mutual goal of both parties to ensure food safety and prevent counterfeit food products from entering the supply chain.

Talking about this venture with the media, Raj Chowdhury, CEO of HashCash Consultants commented, "Blockchain technology offers the ultimate solution to global food manufacturers to track their food products across the supply chain, ensuring zero cases of food fraud. Our project will also ensure that food is being produced and distributed safely and sustainably. Such accountability within the system will strengthen the bond of trust between manufacturers and consumers."

Issues with the Food Supply Chain

Food fraud is an age-old concern within the industry that has been one of the hardest to counter. Time and again people have expressed concern over the authenticity and quality of food products such as cheese, edible oils, coffee, honey, milk, seafood, spices, etc. The present-day consumers need quality assurance against the food which is being sourced, produced and distributed safely and sustainably to prevent potential health hazards.

Tracking of the food items during its transit from the fields to the grocers is equally essential for swift crisis management in case of any contamination.

Coming to the third and the most concerning issue – the counterfeiting of food products entering the food supply chain is a major discrepancy which leads to substantial losses every year. All these highlight the major lags within the existing supply chain management that needs a quick fix.

How HashCash Proposes to Optimize the Food Supply Chain?

Blockchain technology augments the legacy system with a unified approach towards monitoring and tracking of the food supply chain right from the fields to the manufacturing/packaging units and finally to the retailers.

The HashCash collaboration aims at bringing traceability and transparency into the partner company's supply chain. Every detail concerning production, packaging, and distribution of the products will be entered and recorded in the shared immutable ledger. The ledger will also have details on how the raw materials are being sourced to ensure the safety and sustainability of the entire process.

The use of smart contracts between participants will further validate the process and prevent any unauthorized activity.    

The end food products will have a QR code, scanning which the consumer will be able to access all essential details regarding the food sourcing and manufacturing.

About HashCash Consultants

HashCash is a global software company. HashCash Blockchain products enable enterprises to move assets and settle payments across borders in real-time for Remittances, Trade Finance, Payment Processing and more. HashCash runs US-based digital asset exchange, PayBito & digital asset payment processor, BillBitcoins. HashCash offers cryptocurrency exchange and payment processor software solutions, ICO services and customized use cases. HashCash propels advancement in technology through Blockchain 1o1 programs and its investment arm, Satoshi Angels. HashCash offers solutions in AI, Big Data and IoT though its platforms, products & services. HashCash solves the toughest challenges by executing innovative digital transformation strategies for clients around the world.


SOURCE Hashcash Consultants