The U.K.’s Food Standards Agency (FSA), a safety watchdog, announced Monday it has successfully piloted a blockchain-based supply chain monitoring system.
The trial tracked meat produced in an unnamed cattle slaughterhouse, providing “improved transparency” throughout the supply chain, according to a press release.
FSA head of information management Sian Thomas said in a statement that his agency thought “blockchain technology might add real value to a part of the food industry.”
A slaughterhouse in particular was chosen because its “work requires a lot of inspection and collation of results,” he said.
Walmart, JD.com, Alibaba, Cargill and CBH Group are just some of the firms which are using blockchain to track food items.
The European Commission has received a complaint from the largest consumer rights group in Europe, accusing cryptocurrency marketers on popular social networks of engaging in a misleading promotion that poses a significant risk to consumers.
South Korean securities exchange operator is now expanding its overseeing capacity by monitoring all crypto-related stock activities after volatile movements seen in the last few weeks on listed companies tied to the industry.
In this edition of The Daily, Belgium’s financial regulator has expanded its list of fraudulent platforms offering cryptocurrency investments, while UAE has announced it’s working on new ICO regulations.
Russia’s Federal Financial Monitoring Service has revealed that it will regulate cryptocurrency-related transactions in the country, with a senior official saying that the agency will also oversee the broader cryptocurrency industry, in accordance with recommendations issued by the Financial Action Task Force (FATF).