Singapore decided, on 28 August, to adopt the NULS blockchain technology to save the nation from the looming food scarcity. Currently, the island nation imports more than 90% of its food. However, it’s striving to get that down to 70% by 2030.
Partnership with VeriTAG
To clarify, the partnership will develop the NULS blockchain that will be used to monitor food products. This new system will allow shoppers to verify all food safety information through scanning a code on food labels with mobile phones.
The blockchain won’t just be a ledger to store details, it’ll also give shoppers digital currency as “loyalty points” for scanning the codes. Those digital token rewards require users to download VeriTAG’s app.Jason Lim, VeriTAG CEO
Food Crisis in Singapore
The mishandling of food traceability can have devasting consequences for both the public and the company responsible. South-East Asia struggles with food contamination. The World Health Organsation (WHO) estimates the region accounts for 150 million illnesses and 175 thousand deaths each year.
In 2019, the Singapore Food Agency carried out a survey between April and December that showed 13% of the 3,825 units of vegetables failed inspection as a result of the chemical residue present in them.
Lim added that the move to use the NULS blockchain to develop the monitoring platform is a good one and they will lend their support to the government.