Recent Posts

Categories

Just as technology has allowed us to diagnose the issues that lead to these unwanted outcomes, it can also help us eliminate them entirely.

“Awareness creates responsibility.” One of my early mentors often used this maxim to point out a recurring theme in life and business: Those who are willing and able to call attention to problems should be just as eager to identify solutions, yet they rarely are. In recent years, this reality has become especially apparent in the context of the global food supply chain.

Thanks to ongoing technological advancement, we now have an abundance of tools enabling us to quickly spot problems pertaining to our food and feed. What we still mostly lack, however, are commercially responsible approaches to solving them.

Consider the grain and feed sector. Historically, it has attempted to minimize the consequences of pervasive issues by simply spreading them out. “Dilution is the solution,” as the saying goes. But rather than resolving problems, this approach magnifies them. In the food industry, the end results we see are waste (the countless tons of food rotting in back-alley dumpsters and landfills), or worse yet, illness and death.

Fortunately, we might finally be on the cusp of real solutions. Just as technology has allowed us to diagnose the issues that lead to these unwanted outcomes, it can also help us eliminate them entirely.

Finding a fix

In the developed world, we have the luxury of discarding unwanted food because, for the most part, we can absorb the associated costs. In developing countries, food-related expenses represent a much larger percentage of the average consumer’s total income. Thus, wasting food is often prohibitively expensive.

Venture capital markets have begun to pay closer attention to this problem, and for good reason. It affects a significant portion of the world’s population, which means the addressable market for potential solutions is massive. While developing these solutions is no easy task, the prize is worth the risk for the companies striving to do so.

Ultimately, this prize won’t just be a financial windfall. The implications of eliminating food waste are perhaps even more significant when considered from a humanitarian perspective. A solution that also reduces the industry’s impact on natural resource consumption would be even more significant, achieving the coveted triple bottom line. Thanks to blockchain technology, such a solution is well within reach. READ MORE…