Some of the most powerful app<\/a>lications are in traceability.\u00a0When embedded in supply chains, blockchain can track the entire product lifecycle, from origin to consumption. As the tech provides permanent, indelible, and unalterable records, extensive data about items and transactions can be securely stored and authenticated.<\/p>\n In the food sector, the benefits are particularly attractive. In one pilot project<\/a> by UK\u00a0startup Provenance, blockchain and smart tagging were used to track illegal tuna fishing, seafood fraud<\/a>, and forced labour. As well as ensuring ethical practices, the scheme exposed blockchain\u2019s potential for corporate auditing, tackling counterfeits, and reducing administrative costs.<\/p>\n In Wales, blockchain boffins have found another promising target for traceability: halal meat. In a European first, British startup iov42<\/span><\/a> is developing a data-sharing platform that provides secure records of compliance with halal standards \u2014 which are often breached<\/a>\u00a0by fraudulent products.\u00a0<\/span><\/p>\n Tickets are officially 90% sold out<\/p>\n Don’t miss your chance to be part of Europe’s leading tech event<\/p>\n<\/div>\n<\/div>\n The culprits range from sole traders to international organised crime groups. One of the most notorious transgressions emerged in 2020, when a Malaysian \u201cmeat cartel\u201d<\/a> was exposed for\u00a0bribing customs officials, distributing meat from uncertified slaughterhouses, and passing off kangaroo and horse flesh as halal beef.<\/span><\/p>\n The scandal sparked an outcry in Malaysia \u2014 where Muslims comprise about 60% of the population \u2014 and across the Islamic world. It also threatened to cause deep financial problems. Malaysia was aiming to become a global hub for the $2.3 trillion<\/a> halal market, and was already exporting $9bn in halal-certified products.<\/span><\/p>\n iov42 is betting that blockchain can reduce the risks of such offences. By tracing produce from the farm to the table, the company aims to embed provenance tracking<\/span>, boost certification schemes, and increase impartiality in the halal market.<\/p>\n \u201cOur technology<\/a> was designed to help improve traceability in industries just like this,\u201d said David Coleman, Chief Product Officer at iov42.<\/span><\/p>\n To bring the project to life, iov42 is collaborating with certification experts at\u00a0 Prime UK<\/a>, a Cardiff-based compliance services provider. Last week, the companies announced that they\u2019ve attracted a cash injection\u00a0from the Welsh government\u2019s Blockchain Demonstrator Challenge Fund.<\/p>\n The government scheme was launched to develop the local blockchain sector. If the halal project is a success, it could provide a rare example of the real-world benefits that blockchain can bring to Wales.<\/span>\n <\/div>\n If you liked the article, do not forget to share it with your friends. Follow us on\u00a0Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n For forums sites go to Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n If you want to read more like this article, you can visit our Technology category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n\n
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