Blockchain-related companies Mojix, Wholechain and Tag One have been named winners of the FDA’s first annual Food Traceability Challenge.
Blockchain-related companies Mojix, Wholechain and Tag One have been named among the twelve winning firms in the competition to create low-cost solutions for tracking food supply chains, according to a statement on the FDA website.
The FDA received 90 applications from around the world for the Food Traceability Challenge and selected winners based on the range of uses of the solutions presented and the variety of approaches, platforms and technical developments.
Mojix employs decentralized distributed ledgers and logistics to streamline, digitize and automate the supply chain. Wholechain uses blockchain to coordinate fragmented supply chains for different companies like Topco Associates and Food City.
TagOne minimizes regulatory and legal risks by helping companies to better control their entire supply chain with blockchain solutions.
The FDA competition is part of a US federal program that encourages creative financial solutions that can improve efficiency and reduce costs in food supply chains. Competition winners will not be eligible for cash prizes, but will be able to submit their ideas at the FDA’s online event on September 28th.
Recall that earlier the FDA issued a document in which it noted the potential of blockchain and other technologies for tracking products.