Blockchain Companies Among Winners of FDA Food Traceability Challenge
www.coindesk.com 14 September 2021 00:21, UTC
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Three blockchain companies were among the winners of the U.S. Food and Drug Administration’s (FDA) first annual Food Traceability Challenge, the agency announced on Monday.
Blockchain companies Mojix, Wholechain and Tag One were among 12 companies recognized for creating low-cost traceability solutions for food supply chains. The FDA received 90 entries from around the world, selecting winners for their impact, range of uses and “variety of approaches, platforms and technical designs,” the agency said in a press release on its website.
Mojix uses decentralized item ledgers and logistics to streamline and digitize supply chain automation.
Wholechain employs blockchain-based traceability to help coordinate fragmented supply chains for companies such as Topco Associates and Food City.
TagOne minimizes regulatory and legal risk by helping companies more closely monitor their supply chains from “seed-to-sale” through blockchain-based solutions.
The challenge is part of the New Era of Smarter Food Safety blueprint, a federal program that is meant to encourage creative financial solutions that can boost efficiency and lower costs in food supply chains.
While the challenge awards no cash prize, winners are given the opportunity to present their ideas at a YouTube forum that will take place on Sept. 28 at 18:00 (UTC).
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