BeefChain
BeefChain is a US-led start-up that aims to create a new “rancher-centric” supply chain using blockchain to recapture the value realised by third-party feedlots and processors. By enabling unique animal identification and ensuring origin, BeefChain allows the rancher to receive premium pricing for premium beef, and provides consumers with greater confidence in the meat they consume.
It is currently partnered in a pilot project with six multigenerational ranches in the US state of Wyoming, using the Ethereum blockchain. More than 1,600 calves have been hashed to the blockchain and this “first-in-the-world” blockchain herd, totalling 500,000lbs (approximately 227,000kg) of high-quality Wyoming-certified beef, will be ready for delivery in late summer of 2019.
Deloitte recommends that the Irish beef industry harness the potential of this new technology to differentiate itself in a competitive market. It also recommends the establishment of an industry body, the development of a pilot solution and a terms-of-reference charter. Industry adoption and incentivisation are also crucial pieces of the puzzle.
Joe Healy, president of the Irish Farmers’ Association, said: “Farmers are dedicated to producing the highest-quality food. We are the foundation of the food chain and anything that helps us produce our beef more efficiently, through speeding up transactional and regulatory elements of the supply chain, is welcomed.
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according to Deloitte research
