Over the years, food safety has become a global issue. Mr. Ying Wu is a serial entrepreneur who founded S&P Pharmaceutical Development Ltd, the first publicly traded company in Qinghai, his home province. After the birth of his daughter, Mr. Wu realized how difficult it is to find food that is safe to consume. He founded — Anfou in 2011 in a bid to establish an eco-system which will ensure food safety for all children and for the generations to come. Anfou successfully utilized blockchain to offer solutions for the food safety industry.
Diana Ding, the CEO and founder of Ding Ding TV and Silicon Valley Innovation Channel, recently moderated a panel on the topic at the Silicon Valley Frontier Technology Spotlight. The panel discussion included Mr. Ying Wu, the founder, and CEO of AnFou, Chun Xia, the co-founder and GP of Tsinghua Silicon Valley Capital (TSVC), and Dr. Gong Li, a world-renowned computer expert and founder of Acadine Technologies.
Blockchain remains a hot topic as experts from various industries continue to examine how it can influence areas beyond cryptocurrency. The panel participants wanted to know what challenges the traditional food safety industry faces when using the blockchain technology. Doctor Xia acknowledged that computer scientists are considering how the traditional industry can implement the blockchain technology while overcomng the fundamental issue of trust.
Dr. Gong asked why the rise of Bitcoin is so surprising and whether it solved the consensus problem completely. The consensus problem refers to many computers working together and whether it is possible to reach an agreement without problems. Both Dr. Xia and Dr. Gong explained that the academic research shows there is no single solution to the consensus problem, and the conclusion is that there is no theoretical solution.
However, practice reveals differently. At some point, Bitcoin did partially solve the problem and reached a consensus. Because of this, people do have a certain level of trust in the cryptocurrency. At this level of consensus people (users) trust that Bitcoin can sustain value over time, like a version of digital gold. Still, it is a certain level of consensus, not a theoretical consensus.
In Dr. Xia’s view, AnFou is an organization that, by its specific nature, is a natural fit for the blockchain technology. Consumers organize themselves in a distributor autonomous organization and follow the rules to monitor the whole process of food growing. It includes everything from the quality of air, soil, and water to the seed selection. Consumers want to watch and control what is going on in the food growing process from start to finish.
That leaves farmers with a considerable difficulty. They will be held accountable if at any point in the food growing process they want to do something evil (anything that will make the food unsafe to consume). The whole process is recorded onto the blockchain system and no one can alter it at any point. By implementing the blockchain technology in this way, AnFou has successfully solved a problem for the food safety industry.
About Silicon Valley Frontier Technology Spotlight:
Silicon Valley Frontier Technology Spotlight is a premier platform and networking opportunity for the top global investors and companies. Prominent international investors participate in panel discussions to talk about the investing trends in the future. Bringing together experts from diverse fields, the intent is to exchange ideas, offer solutions, and create a bridge across the industries.
About Silicon Valley Innovation Channel – Ding Ding TV:
Ding Ding TV - Silicon Valley Innovation Channel is the first Asian American Internet TV channel for global entrepreneurs. Ding Ding TV has been positioned as a hub, bridge, and platform for the US and global business relations. Ding Ding TV co-presented Silicon Valley Entrepreneurs Festival and Silicon Valley Food & Art Festival. Branding show Innovation Dialog and Battle Silicon are the trustworthy branding for High Tech professionals and innovators in Silicon Valley and all over the world.
Ding Ding TV has created 20000+ videos, connected 10,000+ companies, video reported 1000+ events, worked with 100+ Medias, traveled to 50+ cities. Ding Ding TV content is delivered to 200 million audiences globally.
Release ID: 447535