Can you imagine acquiring a credit letter from a bank in a few hours, and sharing it with your providers in a few minutes? How about you receive an update from the customs department about the status of your goods with no bureaucracy and complete security?

Yes, this is all possible, and it is a fact that such information (product status updates, credit approval letters, and so on), gathered by using IoT and blockchain technologies, is important. However, the benefits brought by blockchain technologies go much further than the ones we've just mentioned.

Before exploring these additional benefits, let's go through some of the challenges that are faced by this industry and the regulations that are put in place to try and implement food safety.