A Highly Sophisticated Solution for … Counterfeit Cheese?
Parmigiano-Reggiano: this is one of the biggest premium cheese makers in the world, the Italian company. Last year, its sales were $2.4 billion worth of cheese, but the fraudulent cheese market is $2.1 billion. So how is Parmigiano-Reggiano fighting against counterfeit cheese? They've decided to put tiny transponders smaller than a grain of salt into its wheels of cheese. The tag is food safe, and the data that the transponders collect goes on to the blockchain, so everyone can track every wheel of cheese from the factory to the store. This not only prevents fraud. The track and trace technology helps if there is a product recall. You don't have to throw out every wheel of cheese, just those that have been contaminated, saving everybody money and a lot of peace of mind. They're putting these new smart labels onto 100,000 wheels of cheese this summer. This is just one example of the innovations being created in the field of exponential technologies.