With growing demand for transparency and traceability of global food supply chains – the Food Traceability market is estimated to be worth as much as US$9.28billion by 2028, it is no wonder that there has been much data-driven innovation in the AgriFood sector. There has also been increasing recognition of the need for a digitalized food system, particularly in the wake of Covid.
However, critical digital and physical documentation required to conduct AgriFood trade continues to be disseminated, recorded and stored in an inefficient, disconnected and unsecure manner across the various stakeholders in the AgriFood supply chain.
Importance of Trusted Supply Chain Trade Documents in AgriFood Trade
Agriculture and food commerce are more complicated than manufacturing trade because trade standards are more stringent, documentation is more cumbersome, and logistics are more complicated – these are often necessary to ensure consumer food safety. For food safety, detailed information on traded items as well as the movement of goods in a supply chain is vital and these challenges have been exacerbated by the rise in e-commerce.
Thus, the need for trusted digital documents showing the food safety status and traceability data of food products is needed more than ever. For instance, in lieu of the pandemic, China has implemented strict policies on food imports and even banned imported fruits and salmon from specific ports. For AgriFood companies dealing with food import-exports, being able to efficiently and effectively store digital documents and trade information and ensure its validity and authenticity in crucial to ensure trust in the provenance of their food products.
How Can AgriFood Businesses Be Assured of the Security of Their Uploaded Documents?
Data breaches, document forgeries, and fraudulence have become a pressing issue for digital documents on the web or businesses’ private platforms. It is crucial to note that although there are several methods for digitizing documents and storing digital documents, the security and efficiency of such methods may not be as seamless and transparent as one might think.
Current communications occur over different communications platforms such as social messaging apps and emails, causing crucial trade information and documents to be scattered and stored inefficiently, making it challenging for AgriFood companies to ensure timely verification of these documents, or store and retrieve them securely.
How DiMuto Helps – DiMuto Creates Trade Visibility for “The Messy Middle”
With DiMuto, Retailers and Suppliers can now enjoy greater visibility of all their trade data. Product, document and payment data are all tracked on a single platform. Suppliers, Traders and Retailers are able to easily access all relevant trade documents which are automatically uploaded onto the blockchain, ensuring immutable records of the trade action and documents.
In addition to utilizing the blockchain to build trust, DiMuto utilizes Dedoco, a decentralized digital signing platform on blockchain, to further authenticate trade documents.
How DiMuto Authenticates Trade Documents on the Platform with Dedoco
AgriFood Trade documents on DiMuto are further authenticated with Dedoco’s blockchain-enabled electronic signature platform to increase the credibility of digital documents. Documents are readily signed using Dedoco and registered with a unique blockchain hash when they are published to the DiMuto platform. Documents’ signatures can also be verified Dedoco web.
Digital Documents will require signatures that are then embedded with a blockchain hash
With blockchain-verified signatures that act as a guarantee of document authencity, DiMuto ensures credibility of every trade transaction – removing barriers such as security risks, fraudulence, and forgery of documents. DiMuto’s All-in-One trade management platform helps strengthen trust and confidence among AgriFood players in the food supply chain.
If you are interested to learn more about how DiMuto ensures trust for global AgriFood trade transactions, talk to our sales team today at email@example.com and find out how DiMuto can support your journey to better trade visibility. www.dimuto.io