Due to increase in food crime and deterioration of food quality ARCnet has created a start-up which uses blockchain technology to ensure authenticity
Due to increase in food crime and deterioration of food quality ARCnet has created a start-up which uses blockchain technology to ensure authenticity and quality of food. Recently it became known that many products do not contain the ingredients mentioned on the labels. This start-up might be a solution to that issue.
In 2013 many UK foods had traces of horse meat which were detected during testing. An enthusiastic Enterprenuer Kieran Kelly founded Arc-net to ensure product protection and food quality. Arc-net was founded in Ireland. It was created to ensure 100% authenticity of food with the mentioned ingredients and to make them traceable.
Arc-net has recently pointed that about 30-40% of the food being consumed is either mislabeled, adulterated or of low quality.
Blockchain technology allows you to trace the foods you are consuming from the creation through processing and then till consumption by the consumer. Arc-net intelligently uses this technology to ensure the credibility of the food a person is eating. Blockchain technology uses data that is visible to all but can not be changed or copied. It ensures transparency about the data history of the foods.
In an interview with Arc-net’s chief development officer Brenda Smyth informed that the Authenticity of animals breed, origin, toxin exposure, unregulated medications, and other key markers that can affect the quality of foods, can be checked from the DNA sample taken from the animal and cross checking it to the block chain data available of that batch and animal. To ensure safe and reliable food resources for consumption.
In 2016, a report released by PwC claimed that the Cost of food crime, fraud and adulteration has been recorded to be $40 billion per year. This affects both regular consumers and national retailers who deal with such affected products unintentionally.
This adulteration and fraud is not restricted to the meat department. In an article from the The Guardian written by Chris Elliot a professor of Queens University Belfast, Six everyday items have been marked to contain affected or adulterated food items. These include baby formula where the prices vary greatly with the brands, and guacamole prepared by avocado being an expensive fruit is replaced by an inexpensive fruit. Criminals have great incentives to follow and commit food crimes.
A national retailer Tesco may need to trace and monitor about 40,000 different food products due to the increasing food crime. Food traceability is a huge and difficult task which requires a strong and effective data management system that can not be altered, changed or copied.
Smyth informed that Arc-net’s use of blockchain technology is meant to deliver transparency, authenticity and quality across different supply chains and to provide the ability to verify good and safe products for consumption.