The Food Service Blockchain Alliance is a collective of operators, technology leaders and innovators working together to define the future for creating, managing and securing key operational data using blockchain technology.
When implemented, a private Blockchain for the enterprise provides companies with a permeant log of all activity that takes place in or around the restaurant. This technology works by requiring every event, around money, material and people, to be broadcasted and acknowledged by the entire organization as it occurs. After complete awareness and recognition across all functions of the operation, the event is then cemented as a “block” into an unalterable “chain” living at the heart of the company.
Blockchain technology could be the factor that safeguards the continued success of multi-unit brands in the digital era.
As today’s retailing environment continues to evolve, the expectations from regulatory agencies, customers and employees to have more transparency into operations will continue to increase. Are you prepared to stand behind the accuracy of your data?
Blockchain technology is a method for creating and maintaining an immutable, permeant digital ledger of data through the usage of “blocks” linked together in a chain. This technology was introduced in connection to Bitcoin about 10 years ago. However, Bitcoin is to Blockchain what email was to the internet in the 90s.
As today’s retailing environment continues to evolve, the expectations from regulatory agencies, customers, and employees to have more transparency into and confidence in operational data will continue to increase. Blockchain technology presents a unique opportunity for food service to guarantee and safeguard the accuracy of their data.
Due to a combination of increasing public concern around data protection and the likelihood of additional regulation around data governance and reporting, the foodservice industry needs to proactively come together to define a collective standard for governing our data. As industry experts, we need to pave our own path.