Blockchain, NFTs, And The Future Of The Perishables Supply Chain

Blockchain, NFTs, And The Future Of The Perishables Supply Chain

As the perishable food industry continues to grow at a rapid pace, investors are searching for ... [+] solutions to widespread supply chain issues. Is there a use case for NFTs in our global supply chain, or are they a passing fad with limited applicability outside of the digital art world? As the global perishable food market grew to roughly $152. 24 billion by the end of 2022, and continues to grow at a compound annual growth rate of 9. 5% per year, leaders in the perishables supply chain space are expected to accommodate these remarkable growth rates in nearly every capacity. With this incredible expansion across the industry, a bevy of issues loom ever present for technology companies, logistics providers, and operators in their respective fields. The perishables industry is known to be notoriously slow to adopt new tech solutions and typically opts for simple implementations that don't interfere with daily operations. In turn, it will be interesting to see which nascent technologies this industry chooses to adopt moving forward. With the traceability of goods, freshness and quality inspections, freight forwarding, shipping, and logistics all top of mind for supply chain leaders, questions in the industry continue to arise.