China fact, did you know that food fraud costs the global food industry some $40 billion each year but Chinese consumers are particularly fearful about food safety. The reason why this is important is among others that exposes of fake food - not all of which are true - can spread like fire on Chinese social media platforms like WeChat and Weibo, only adding to the confusion and distrust. When problems do arise, the lack of transparency about how food is processed makes it challenging to pinpoint where in the supply chain things went wrong*). This is where Blockchain technology comes in.
*) Wonderful Journey 19th August 2017