Victor Ugochukwu · Dec 14, 2020 . 5min read
VeChain’s ToolChain offers Food Safety in Covid-19 Pandemic
VeChain, declared the launch of its market-ready blockchain-enabled food safety solution ToolChain. It would track food safety during Covid-19 pandemic.
By Komal Joshi · Aug 8, 2020 . 7min read
On August 7, 2020, VeChain, declared the launch of its market-ready blockchain-enabled food safety solution ToolChain. The announcement states that it would track food safety during Covid-19 pandemic. VeChain is a blockchain platform designed to enhance supply chain management.
As a leading enterprise-friendly public blockchain platform, VeChain started in 2015. It aims to combine blockchain technology to the real world and enterprises with blockchain solutions suitable for their business needs. Additionally, it also assists in building a trust-free and distributed business ecosystem platform for business value.
According to the blog post, the ToolChain enables the deployment of blockchain technology in the food sector. It has a quicker lead time than any other platform in the industry. The solution will also interject some business-ready technical features as part of efforts to meet the most urgent needs for the food industry in this era.
VeChain Foundation tweeted announcing the launch of ToolChain.
The COVID-19 pandemic is causing systemic collapse to the supply chains across the globe. The market participants are now tending towards DLT services for more sturdy supply chain management protocols. Therefore, the requirement to track agricultural products became more significant.
ToolChain: Prominence and Characteristics
According to VeChain, the blockchain-based solution is viable across many use cases and sub-sectors. The use cases include dairy, fresh produce, imported food, FMCG, and alcohol and wine. The VeChain powered ToolChain, food safety solution, can offer food industry enterprises with unique traceability templates that have effectually been verified.
VeChain ToolChain also facilitates large-scale, faster, and cost-efficient blockchain. Through this, food companies of any size can quickly build their business process as “drag and drop.” However, VeChain believes that the adoption of the system can also promote interaction between retailers in the industry. The system will also enable easier examination of consumer feedback and complaints. It will facilitate market participants to improve their operations.
VeChain’s ToolChain: A Blessing in Covid-19 Scenario
Solicitudes about food safety have been brought to the forefront following the Covid-19 pandemic.VeChain powered ToolChain food safety solutions can help food-processing companies use valuable data produced by their own business.
Companies can access the world’s leading third-party services, which will decrease the cost of insurance, certification, audit, or supply chain financial services. The ToolChain stands as a useful structure. Additionally, it would enable active association amongst all stakeholders in the food supply chain.
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