GSCG hopes to raise awareness about the current state of food waste by analyzing current trends
CHICAGO, Oct. 26, 2022 /PRNewswire/ — Global Smart Commodity Group (SmartCommodityGroup.com), a multi-asset class commodities exchange, creators of the SALUS platform, built on blockchain technology, reveals paradigm shifting insights for those who are rethinking supply chain management processes. The company has unveiled this information in a trends report, which details the top five trends that industry leaders should be prepared for, with the end goal of minimizing food waste in the system.
The report, entitled “Reducing the Food Waste Gap,” explains the foundational issues taking place within the commodities market, as well as the inefficiencies experienced in the supply chain by food producers and suppliers. In addition, the whitepaper laid out five key trends, stating that:
- Food commodities trading is becoming the new metal commodities market;
- The supply chain isn’t normalizing, it continues to fluctuate;
- New scientific innovations are leading to longer lasting food;
- Food waste is trending downwards in the long run; and
- Consumers are prioritizing where their food comes from.
“Food waste is already in the process of being reduced as a result of better transactional processes such as the use of smart contracts and other technologies,” said Robert Alberghine, CEO of Global Smart Commodity Group. “Despite this progress in minimizing wastefulness, there are still a lot of inefficiencies, and much work to be done. Blockchain technology and new scientific advancements will work hand-in-hand to alleviate the stress still being placed upon our commodities supply chain.”
GSCG incorporates smart contracts to allow for verification of the commodities being exchanged. The track and trace element embedded in the process itself is a key defining feature of the platform. GSCG’s approach to supply chain transparency brings them to the forefront of commodities trading today and for the future. The company released the whitepaper to alert those in the industry of ongoing trends so that more people are aware of the factors leading to increased and reduced food waste.
“The good news is that it appears food waste will trend downwards in the long-term view,” said Jack Bouroudjian, Chairman of GSCG. “We’ve had an oversaturation of food in the West for decades—a sign of our success—yet current events over the past few years are compiling, leading to a heightened food conservation mentality. This, coupled with shifting consumer priorities, will reshape the perishable food landscape as we know it.”
To view the report in its entirety, visit https://www.smartcommoditygroup.com/_files/ugd/7e9025_e46b9a876270425a9f11538e41ec62aa.pdf. To learn more about GSCG, visit https://smartcommoditygroup.com/.
Global Smart Commodity Group (GSCG) brings a new exchange trading experience for the commodities of the 21st Century. GSCG’s eco-conscious mindset brings them to the forefront of commodities trading today and for the future. GSCG’s proprietary trading platform is built on blockchain technology, and will propel commodities trading to the next level by providing increased transparency at every stage of the supply chain. And with this single source of truth and built-in central price discovery mechanisms, GSCG will help resolve existing price and supply chain inefficiencies for underserved commodities markets around the world.
Learn more at https://smartcommoditygroup.com/
SOURCE Global Smart Commodity Group