What makes BeefLedger different from other food supply chain projects?

State of Blockchain Supply Chain Projects

Most supply chain projects in the blockchain space are focused on providing a “track and trace” solution, which are promoted on the basis of a decentralised computer data storage network. We believe data integrity cannot be assured simply by this approach, as has been well explained here in relation to 'rubbish in / rubbish out' problems, and here in relation to data cartel risk.

The reality is there are many relatively mature non-blockchain based systems and technologies that are quite serviceable and can be readily improved upon without blockchain.

For us, effective credence claims must be anchored by the economics of authenticity for both products and actors involved, and be open to wider participation by the community at large. That’s where blockchain technology comes in for us; and it's more than just a technical infrastructure.

BeefLedger's Points of Difference

BeefLedger goes beyond track & trace and offers the following key areas of difference:

1. Supply Chain Finance Innovation

   • Supply chain financing solutions that address the cost of finance and lumpiness of payments (e.g. trade credit terms) as a significant impost on players within the supply chain and limits opportunities for businesses to grow. This adds costs to consumers and risks to producers.

   • Data-driven risk mitigation which further optimizes supply chain finance via decentralised infrastructure by aligning the aspirations and expectations of communities the need to stabilise supply chains in essential areas such as food production & distribution.

   • Fractionalised securities - We offer a pathway to the real assets with a plan to progressively deliver globally diversified investment pools in food systems assets, activities and infrastructure by removing traditional financial intermediaries who are delivering no value to many supply chain participants but are, rather, extracting rents and driving up costs.

2. Holistic Decentralisation of Data Integrity

   • We have designed and applied decentralised mechanisms to not only the storage of data (the blockchain per se), but also the mechanisms by which data is collected, produced and validated (via multi-sig and community attestation protocols) and consumed. Mechanisms like our multisig and Community Attestation protocols are deployed on the blockchain so are themselves transparent to participants.

3. Consumer Value Creation

   • Consumers are also key participants in data integrity in the network. They aren’t just passive ‘consumers’ of data. Instead, in the BeefLedger system, consumers (that is, anyone in the network) can:

     • Earn $BEEF by participating in Community Attention processes; and

     • Earn $BEEF by validating the consumption of assets, and confirming to the community that the asset in question is no longer available for re-sale. This contributes to mitigating risk of re-packaging / counterfeiting and fraud.

   • Opportunities for consumer benefits through group buying or impact procurement, and referrals, are being designed for future release.