Food, Trade, and NULS Blockchain
In 2019, the Singapore Food agency quality-tested 3825 units of fruits and vegetables from April through December. Almost 500 (13%) failed their quality test because of too many chemicals and pesticide residues.
Southeast Asia is among those affected by the ongoing food crisis. This issue needs attention and reliable solutions. Many countries like Singapore rely on imported food products. This is where blockchain comes in.
By placing QR codes, bar codes, and other signatures on food item labels — food can be traced back to its origin. VeriTAG collaborates with the Singapore Food agency and ST Engineering to address this crisis. VeriTAG is a Singapore-based tech company specializing in innovative product tagging.
The labels on the food are matched to permanent records in the blockchain. This means that the country of origin and manufacture date is set in stone. Thanks to blockchain — those records are unchangeable.
The food industry already benefits from blockchain. Many industry giants like Walmart and Dole already use and benefit from blockchains.
VeriTAG and NULS
NULS prides itself in its immutable and adaptive blockchain infrastructure, offering cost-effective and efficient business app solutions. VeriTAG maximizes that support with a tracking system that guarantees ease of use and food traceability from the origin to the point of sale.
“It’s essential to find the right and supportive partner,” Lim (VeriTAG Founder) says. “NULS gives us their full support,” he adds.
VeriTAG encourages users to take part in this initiative via a token-based web application that allows them to scan VeriTAG seal tags and gain loyalty credits in return. Users may opt to exchange these for NULS tokens or convert them using the Singapore digital currency in their Ubin wallets. Ubin is a project exploring the use of blockchains for clearing and settling assets.
4 Reasons VeriTAG is a Must Have
- VeriHUB — VeriTAG’s one-stop service platform handles imported food products from the source to the point of sale. VeriHUB aims to enhance food security and avoid food fraud in the food supply chain.
- VeriShop — VeriTAG’s loyalty program encourages consumers to get involved while earning rewards. The company tapped local partners and POS providers in Singapore to introduce it to food, beverage, and retail markets.
- TradeTrust — VeriTAG has partnered with TradeTrust to strengthen Singapore’s cross-border trade. TradeTrust is a digital platform that uses blockchain-based tools to fast-track trade documents. It digitizes international commerce through its globally accepted standards and frameworks for governments and businesses.
- NULS — NULS provides the blockchain software and network platform that VeriTAG is built on.
As we navigate this new age of rapid innovation, blockchain helps us prevent fraud, even in our food chain. A simple tag or hint of technology can make everyday things safer. And through VeriTAG, users and consumers are at ease knowing their food purchases are safe. Now that’s technology put to good use.
The best way to get involved with NULS is to join in!
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