Fresh Supply Co ready to shift to the HBAR foundation
On March 30, the HBAR foundation took to Twitter to announce that Fresh Supply Co (FSCO) has migrated from the Mastercard blockchain to the Hedera network for real-world asset tokenization.
Conventionally, the financiers were limited to financial reports and profit-and-loss balance sheets during credit risk assessment. However, the cycle of agrifood value was complex, as it used to cover the whole process of production, processing, and distribution of agricultural products to customers.
With the help of FSCO, the entire value chain, including the conversion of milk to cheese, cows to beef, and other procedures like shipping and completing standing orders, would be tokenized and observed with transparency. By tokenizing assets and events, FSCO aims to digitize the food chain and trade to provide in-depth, transparent, and verifiable data for financiers.
This collective value chain information would enable financiers to analyze and verify the record of goods or assets that flow into and out of businesses. Meanwhile, financiers will be able to continuously validate cash flows for those events.
As part of the integration, FSCO will move all of its current business onto Hedera and use the Hedera Token Service (HTS) and the Hedera Consensus Service (HCS). The reason for leveraging Hedera is their Governing Council maturity and the goal of making ESG reporting credible across industries.