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The future of Cardano blockchain and IOHK continues to excite their teams as they forecast brighter days for the companies due to the solutions they offer.
In the latest Cardano virtual summit Proof of Stake edition, the Chief Technical Offer at IOHK, Jerry Fragiskatos, announced a new partnership the blockchain firm signed to offer food traceability solutions to ranchers by tracking beef from farm to table.
Cardano has just partnered with Wyoming-based traceability solution company Beefchain that helps ranchers tackle food security problems.
The summit where the partnership was announced featured the Chief Ranch Operations (CRO) for Beefchain, Tyler Lyndholm, the CEO – Steven Lucan, CTO Philip Schlump, and Ahmad Alkabra, Atala Trace product and Partnership manager for IOHK.
Beefchain is the world’s first blockchain-based company to be certified by the United States Department of Agriculture (USDA) for the assurance of its cattle produce.
The Chief Ranch Operations officer at Beefchain said as regards food traceability, food safety is always of great concern, and various governments across the world have made significant moves to tackle the issue. He further explained that over one year before now, Walmart employed blockchain technology to ensure the traceability of some of its products like the Roman lettuce and other leafy greens.
The president and CEO of BeefChain, in his presentation at the online summit, said he and his entire company are grateful to IOHK and Cardano for the opportunity they offer them in developing their technology, adding that partnering with Cardano is really great.
He noted that Beefchain’s objective, since creation, was to tackle some problems that are impacting the ranching community, such as intermediaries, frauds, and regulatory problems. Cardano blockchain technology offers a great approach to solve all of these problems.
Due to the transparency, immutability, and distributed nature of blockchain technology, Steven claims blockchain is the only way to go in storing and sharing data with its farmers and customers/consumers.
Beefchain has also partnered the state of Wyoming, and the University of Wyoming to ensure the firm meets up with regulatory standards.
Steven Lucan concluded that the partnership with IOHK and Atala Trace, a product of Cardano, bring ranchers a state-of-art technology, since IOHK provides a backbone to Beefchain’s system with its secured, transparent and scalable features.
Furthering on the use case of blockchain technology, Tyler Lyndholm said using the verified data, ranchers make an additional $25 to $30 thousand every year on a herd of cattle.
With the introduction of the verified data scheme, ranchers have made more investments for raising quality products, thanks to the Cardano and IOHK’s team, the CRO officer at Beefchain said.
Earlier in 2019, it was reported that Beefchain makes use of Ethereum blockchain for its activities in ensuring the security of its beef products. However, it is not clear whether the platform has abandoned the Ethereum network for Cardano, or it uses both.