BeefChain creates a model for the rancher that accomplishes two objectives. The first is to bring technology to the rancher in order to enhance traceability and prove humane handling. BeefChain’s RFID tags and other IoT device supload unique cow/calf information to the Blockchain to establish immutable, auditable provenance to better capture the free range, grass-fed premium. The second is to create an end-to-end supply chain solution they call "Rancher to Retail" through BeefChain investment in feedlot and processing operations. These operations will allow BeefChain to offer exclusive, long-term relationships with buyers across the globe.
BeefChain certifies how the cattle were raised and then tracks the cattle throughout the supply chain, utilizing blockchain to validate specific data at different points.
As far as progress goes for the company, BeefChain finished its beta phase and currently is selling its product. A numerous amount of ranchers have contacted BeefChain with interest over the course of the past year. BeefChain has its sights set on sending tags not only to Wyoming, but also states such as Nebraska and South Dakota.
Process Verified Program
In 2019 BeefChain received certification from the United States Department of Agriculture as a Process Verified Program. BeefChain is the first blockchain company to receive such USDA certification. Process Verified Program (PVP) certification from the USDA lets BeefChain conduct a host of activities in line with the department's regulation. The status allows BeefChain to audit different feed yards and ranches in four specific programs. Two of such programs are standard programs, which include verifying the source and age of the related animals, as well as making sure cattle are not treated with hormones. The other two of the four mentioned programs are custom programs, BeefChain Natural and Wyoming Plus.
BeefChain Natural fits into the aspect of a typical natural program, plus grass-fed with no antibiotics, and no hormones. The first six months of the calf's life has to be on natural forage or feed, so that takes that calf from birth all the way to sell time for a typical rancher.
Wyoming Plus program relates to source and age verification, with additional Wyoming GPS coordinates to track the animals back to their original calving pastures. Wyoming is being held as a sort of test case for the Wyoming Plus program, although the Plus program is adaptable to any state, or even on a global scale. The company is targetting the U.S. specifically at the moment, with the USDA certification specific to the U.S.