Blockchain Education: Blockchain and the Food Chain Industry | Food for Thought | Reminders
Blockchain and the Food Chain Industry
When it comes to handling food-related data, blockchain technology offers several advantages, including traceability, security, and decentralization.
With its immutable nature, blockchain ensures that transactions remain unchanged and transparent. Every modification made to the data is tracked, recorded, and made visible to everyone who has access to it.
Decentralized storage of data is another notable feature of blockchain technology. Instead of relying on a single server, multiple copies of the data are stored on different nodes accessible to all members of the network. This transparency eliminates the need for trust and removes the requirement for a central authority to mediate between parties.
Recently published articles explain how blockchain technology is especially useful in preventing food tampering, fraud, and false advertising and how it can also facilitate mass recalls of contaminated items, identify food wastage in the supply chain, reduce the likelihood of food spoilage, and enable companies to certify the organic or fair-trade origins of their products. One company employing blockchain to solve problems is Walmart. Walmart Canada has employed blockchain technology to automate its invoice and payment processes with third-party freight carriers. With over 500,000 shipments annually, the logistics involved over 200 data points that needed to be factored into invoices, leading to increased transaction costs and long payment delays. By creating a blockchain network, Walmart Canada overcame the problem of incompatible enterprise systems and established a shared single source of truth for all parties. According to an article published in Harvard Business Review, the system, known as DL Freight, has been successful in reducing invoice discrepancies from over 70% to less than 1%, and payments are now made on time. The food industry faces numerous challenges that can pose a risk to consumers if not addressed effectively. Incorporating blockchain technology in the industry can be a viable solution to resolve many of these issues, ultimately promoting a healthier and safer community in the long run.
Sources: Enwood, D. How blockchain is revolutionising the food chain industry. Blockhead
Technologies (Mar. 2, 2021), blockheadtechnologies.com/how-blockchain-is-revolutionising-food-supply-chains/
Vitasek, K et al. How Walmart Canada Uses Blockchain to Solve Supply-Chain
Challenges. Harvard Business Review (Jan. 2, 2022), https://hbr.org/2022/01/howwalmart-canada-uses- blockchain-to-solve-supply-chain-challenges
Disclaimer: This educational piece is for general blockchain education purposes only and is not specifically related to the SafeMoon Ecosystem.
💭Food For Thought
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SafeMoon Special - Hello Again
SafeMoon Pulse Monthly Recap
Each month, the SafeMoon Pulse offers a comprehensive SafeMoon overview of the previous month, including any updates or changes you might have missed. The latest issue of the SafeMoon Pulse is now available, covering all the important information from the month of January 2023.
Let's recap the month of January! The video is below, or if you prefer reading, you can access the Pulse article here.
SafeMoon Wallet: How to Sell Crypto Guide
SafeMoon Orbital Shield
SafeMoon released a technical explanation of their patent-pending security product, SafeMoon Orbital Shield.
Need a slightly more simplified explanation?
What is PoA, and what are its advantages?
Learn more by clicking the image below.
Recent Captain's Logs
SafeMoon CEO John Karony talks about SafeMoon's Centralized Exchange
(CEX) progress in the Captain's Log video below.
CEO John Karony gave a quick update on the SafeMoon blockchain, explaining a bit about the chosen consensus mechanism and release expectations.
Token Monetization Innovation (TMI)
SafeMoon has released a new patent pending feature designed to improve the user experience on its DEX (Decentralized Exchange - SafeMoon SWaP), labeling the feature TMI (Token Monetization Innovation).
TMI aims to improve transparency and transaction predictability by charging the exchange fees upfront in the native token and using smart contracts to ensure transparency in token liquidity pairings. It also aims to expand the availability of web3 and enable additional community partnerships with meaningful projects.
TMI SafeMoon Newsletter Captain's Log.
Attention pSafeMoon holders ONLY.
The pSFM Migration Campaign is now LIVE!
Only use the official dApp link on the SafeMoon Website.⚠️
Have the tokens you want to use for migration in your wallet.
Don't transfer after the cutoff date/time
Have a small amount of ETH for gas fees
Tokens acquired in wallets after the cutoff date/time won't be eligible
The pSafeMoon process will remain live for a minimum of six months.
Migrate your pSafeMoon tokens to SafeMoon V2 tokens
The education team has also recently updated their pSafeMoon Guide to include an updates section so you can be aware of any issues relating to pSafeMoon. In addition, you'll find some FAQs to keep you all up to date.
Click the image to check it out
SafeMoon announced that with the recent SafeMoon SWaP updates came a new patent pending feature that solves the existing Defi inconsistent fee paradigm for tokens on multiple Decentralized Exchanges.
Press Release: [Businesswire]
They partnered with "Blockchain and AI expert Dr. Adel Elmessiry to help solve the inconsistency. Labeling the invention "Tokenomic Supervisor," they explain that it operates in 2 steps:
To learn more, view the full article here.
Security Questions (Best Practice)
🎓You might have seen that SafeMoon Orbital Shield requires users to answer 2 security questions.
⚠️We highly encourage reading our Best Practice article to learn about a safer method for answering these security questions!
Slippage and Gas Articles
You may have heard of slippage and gas related to the transactions you make when trading your digital assets on the blockchain, but do you know what they are, where they come into play during a transaction, or even why they exist?
SafeMoon Education Manager Cats published two new educational articles for those interested in understanding more.
⬇️Click on the image of the subject you'd like to learn about first.⬇️
↙ Learn about Slippage (Left) and Gas (Right) ↘
Understanding SafeMoon Transactions Article
🎓Want to understand more about what happens when a SafeMoon SWaP transaction takes place? Here's an article that can help you understand the process a bit further.
Check it out by clicking the image below. 👇👇👇
SafeMoon Career Opportunities
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