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China tries to regain consumer trust by using “Blockchain Technology”

Consumer demand in foods sourced from China is at an all-time low. Inside this fake business, they started adulterating basic food items like eggs, milk and rice.

Sanlu Group, China’s largest baby formula company, was found distributing fake baby milk a few years ago. Melamine, a harmful industrial ingredient, was added to the counterfeit mixture. It was added to the mix to enhance protein levels artificially. The result was a heart-breaking narrative of greed with real-world impacts: infants died and hundreds became ill. It was a national nightmare that developed into a worldwide food-fraud disaster. It was another blow to the idea that Chinese customers could trust their food producers.

Fungus and the Blockchain

Edible fungus is one of Guizhou’s biggest industries, bringing in $2.89 billion in the Guizhou region alone during the last four years. Guizhou’s edible fungus output has climbed by 51 per cent each year in the same time period. And the cost has increased by 60 per cent from last year.

Now the fungus industry has been connected with blockchain technology in Guiyang’s Baiyun area. The objective is to track and integrate the whole industrial cycle.

A farmer stands in front of a basket of edible fungus, ready to be sold.

This expansion might be linked to the fact that the edible fungus supply chain now has full-chain tracking. At every step of the process, from the farm to processing to certification, the product is recorded on a blockchain.

It’s called the ‘Intelligent Fungus Cloud,’ and it’s a cutting-edge technology platform for the whole edible fungus sector. There are 31 data gathering locations on the platform. This is in collaboration with 15 edible fungus businesses, cooperatives, bases, and huge farms.

Guizhou Jukong Technology is one of the first blockchain’s firms. In Baiyun, they grow rare, edible fungus. The edible fungal production can now be tracked and verified thanks to the blockchain.

Jeewan Singh
Jeewan Singh
Jeewan Singh is CryptoShrypto’s content writer and a seasoned writer with over two years of experience in writing about Indian Securities Market. Jeewan's participation in Blockchain and Cryptocurrency started in late 2020, and he hasn't looked back since. The technical and economic outcomes of cryptocurrency are what spark his curiosity, and he keeps one eye on the market.
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