Tech giant Oracle and the World Bee Project are developing a blockchain-based sustainability assurance system for honey on the supply chain, according to a report by Ledger Insights on July 5.
The
honey-tracing blockchain will reportedly be developed on the Oracle
Blockchain Platform. According to the report, this partnership aims to
launch a “BeeMark” label, which is a purported guarantee that so-labeled
honey comes from ecological and sustainable sources.
In addition
to blockchain technology, BeeMark also plans to make use of data
science to monitor environmental factors pertaining to the bees’
surroundings. Oracle also plans to install monitoring systems inside
beehives globally, in order to track bee behavior and health.
Oracle
apparently has worked with WBP in the past to develop a
blockchain-based solution that certifies honey as genuine. As per the
report, this solution tracks information uploaded to the Oracle
Blockchain Platform in order to ping modifications to honey along the
supply chain.
In addition to the aforementioned benefits of supply
chain tracking, the report notes that Oracle and WBP ultimately aim to
research population decline in bees using these blockchain
collaborations. As per the report, bee decline poses a risk for the
future of agriculture.
As previously reported by Cointelegraph, food retail giant Nestlé has partnered with the blockchain platform OpenSC to implement supply chain tracking. Nestlé also partnered with IBM’s blockchain network Food Trust in April, another blockchain-based produce tracking initiative.
Walmart China also recently unveiled a partnership with VeChain to track produce via the latter’s Thor blockchain. According to VeChain, a significant portion of Walmart China’s produce will now be tracked:
“It
is expected that the Walmart China's traceability system will see
traceable fresh meat account for 50% of the total sales of packaged
fresh meat, traceable vegetables will account for 40% of the total sales
of packaged vegetables, traceable seafood will account for 12.5% of the
total sales of seafood by the end of 2020.”
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