Research: Blockchain could reduce $ 31 billion in food fraud losses in 5 years

Research published by Juniper Research Institute on the 25th believes that blockchain technology combined with IoT probes and tracking equipment can simplify the food supply chain, significantly reduce the cost of merchants, simplify the compliance process, and provide more efficient food recall services and fraud. Responses. Studies show that the food industry can avoid the loss of $ 31 billion due to food fraud within five years with the help of blockchain.