Bitcoin’s blockchain technology is making it’s way into the foodservice industry.
As an example, Walmart and tech giant, IBM, have partnered together to create a digital system providing food traceability to consumers.
You’ve probably heard about blockchain as it was initially developed for, the cryptocurrency Bitcoin. But now the technology in the cryptocurrency context is being developed for the food service industry.
Blockchain as defined by Investopedia is a digitized, decentralized, public ledger of all cryptocurrency transactions. Constantly growing as ‘completed’ blocks (the most recent transactions) are recorded and added to it in chronological order, it allows market participants to keep track of digital currency transactions without central record keeping. Each node (a computer connected to the network) gets a copy of the blockchain, which is downloaded automatically.