Blockchain technology is incorporated into the culinary industry
Trend - Whether giving consumers product information or empowering ecological initiatives, Blockchain technology is on the rise in the food industry. Such use of this technology reveals its potential outside of transactions alone, and into unlikely spaces that require transparency and enhancement.
Insight - Many industries -- from tech to food to beauty -- are experiencing a surge of consumer wariness focused around a demand for more transparency. Access to information about the darker side of any given industry is available to all consumers in the digital age. With that in mind, consumers with discerning tastes are taking it upon themselves to not just look for quality products, but products that promise a sense of safety and a lack of deception.
Insight - Many industries -- from tech to food to beauty -- are experiencing a surge of consumer wariness focused around a demand for more transparency. Access to information about the darker side of any given industry is available to all consumers in the digital age. With that in mind, consumers with discerning tastes are taking it upon themselves to not just look for quality products, but products that promise a sense of safety and a lack of deception.
Workshop Question - How could your brand better adhere to the demand for more transparency from consumers?
Trend Themes
1. Blockchain Transparency - Blockchain technology allows industries to offer transparency in their products and supply chain, creating opportunities for consumers to access information and foster trust.
2. Blockchain Waste Management - With overproduction being a global issue, blockchain technology is being used to create platforms for retailers to offer reduced prices and manage food waste, creating disruptive innovation in the waste management industry.
3. Blockchain Traceability - Blockchain technology is being leveraged to track food products from their source to the market, creating opportunities for industries to ensure safety and respond efficiently to any safety concerns.
Industry Implications
1. Food - The food industry is leveraging blockchain technology to offer transparency, manage waste, and ensure safety.
2. Retail - Retailers are using blockchain technology to offer transparency in their products, and manage inventory and overproduction waste.
3. Alcohol - Blockchain technology is being used to offer traceability in alcohol products, allowing consumers to have access to the distilling and manufacturing process.
