In Singapore, food and beverage operators are being encouraged to integrate blockchain technology into their operations ahead of new legislation focused on enhancing traceability standards in the local ecosystem. The new Food Safety and Security bill aims to ensure consumer protection by removing unsafe and expired food products from the supply chain. Blockchain offers immutability and transparency, allowing regulators and consumers to assess the quality of food items and ensure they meet standards. The bill also includes steep penalties for violations. In other news, the market value of blockchain applications in sustainable agriculture is forecast to reach $290 million by 2032, driven by the need for greater transparency and improved supply chain management. The large enterprise segment is expected to lead adoption, while small agricultural businesses are anticipated to experience significant growth.



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