Cardano Parent IOHK Announces Partnership With BeefChain

The Cardano parent IOHK just announced a new partnership with the Wyoming-based BeefChain company, to try and create a solution for the traceability and security of beef products, so let’s read more in the Cardano coin news today.

The Cardano Parent representative Jerry Fragiskatos, who is the chief commercial officer at IHOK, announced the new partnership during the virtual conference held on Wednesday and said that the efforts will power ranchers to tackle food security and other safety issues in the billion-dollar industry. The program manager and state representative of BeefChain Tyler Lindholm agreed with the comments and stated that the blockchain-powered solution will improve the food safety and recalls but supply chain concerns will also be benefited in the process.

The project will approach the farm-to-fork method which means that the beef products will be tagged and traced from the farms that they come from to the logistics and the entire supply chain and finally to the users’ table. This method will allow firms to use BeefChain’s solutions and to pinpoint the bad batch or even the fraudulent products that can be inferior to others. Lindholm pointed out retail giants such as Walmart that are already running pilot projects using Blockchain technology to improve the store’s products and accountability.

The company transitioned from the old tracing solutions to the improved blockchain alternative which will bring speed and immutability. BeefChain President Steven Lupien remarked:

 “Our partnership with IOHK brings state-of-the-art technology to ranchers […] We are not technologists [and] IOHK is providing the backbone to our system and it is secured, transparent, and scalable. IOHK has provided everything we needed and more.”

As per the Cardano coin news, using blockchain in the ranching industry offers many benefits across traceability, certification, and consumer engagement use cases among others. With the new IOHK partnership, it shall certify producers with a process verified program with many quality assurance metrics. Beef supply has over the years met a lot of criticism ranging from unsustainable methods of work to lack of accountability. Similar concerns have been made for the Norwegian Salmon as well.

Consumers are also prepared to pay a higher price for a piece of meat if it includes sustainable practices that are a part of the solution against climate change. In the meantime, bringing beef to the blockchain is not new as many startup companies across the world already use it to authenticate the quality of the beef products exports and imports.