Charoen Pokphand Foods Public Company (CP Foods) of Thailand, the country's largest food exporter, is planning to incorporate (1) blockchain technology into its business operations. This will allow the company to guarantee the quality and freshness of shrimp and other products and expand its product line.
For CP Foods, the most important thing has always been to guarantee that all of their goods are safe and of high quality for the end users of those items.
According to the organization, it is critical to remain competitive in the face of rapidly advancing technology by providing blockchain traceability for specific products and supply chain monitoring.
The firm has already integrated blockchain technology with its fresh chicken and hog products.
Utilizing Blockchain in Shrimps Industry
According to Oraparn Mungmisri, who serves as the Assistant Vice President of the Global Standard System Centre:
In 2023, we plan to implement this strategy for our fresh shrimp and prepared food product lines. The next stage will be to develop a traceability system based on blockchain technology for all of the items that we offer across all of our product categories.
CP Foods is a well-known firm that produces well-packaged food items found in a large chain of simplicity stores and supermarkets in the United States as well as in other countries all over the world. These products can be purchased in the United States and other countries around the globe.
2015, CP Foods first launched its CPF Digital Traceability system, which has since been improved by the implementation of blockchain technology for a wide variety of their goods throughout the last few years.
Now, the proposed incorporation of blockchain technology into the shrimp category will enhance customer confidence in the complete reliability and safety of the items that target the Asian market in particular. Specifically, this will improve customer trust and trust in the shrimp.
Food Companies Are Strong Supporters of Eco-Friendly Businesses
CP Foods has partnered with AXONS, a well-respected agri-tech business in Thailand, to further improve the effectiveness of its existing traceability system based on blockchain technology.
Supply chains, procurement, finance, and sourcing are just a few industries that have been utilizing blockchain technology for quite some time now to increase both their level of security and speed.
Many consumers in today's society place a significant amount of importance on traceability, particularly in light of their worries over the sustainability and safety of their food sources.
The tracing mechanism is easy to use. A consumer only scans the QR code on the product's packaging to obtain all of the necessary information regarding the product.
These days, many businesses are placing a high value on environmentally friendly products. When the traceability system is activated, it is very straightforward and quick to determine where the product was obtained and what sort of processes have been performed from the point of origin to the actual manufacture and transportation of the product.
Consumers will also have speedy access to other crucial data, such as certificates on the quality and safety of the food they purchase, thanks to distributed ledger technology (blockchain).