But first, let’s take a quick glance at the history of bread before going more deeply into bread fintech. Evidence of bread’s existence dates back thousands of years, to the time of early civilizations. It’s thought that the first time bread was accidentally discovered, a flour and water mixture fermented after being left out. As a result, a substance like dough was produced, which was later cooked to produce bread.
Oddly, bread and beer share a shared ancestor. In fact, according to some historians, bread was initially produced as a byproduct of beer. Because bread is made from the same grains that are used to create beer, it eventually contains yeast from the fermentation of beer, which results in the production of leavened bread.
The best bread in the world depends on the individual asking the question and is subjective. Some nations, however, are renowned for their superior bread. For instance, France is well-known for its baguettes, whereas Italy is well-known for its focaccia and ciabatta bread. India boasts a wide range of bread, including naan and roti, and Germany is renowned for its hearty rye bread.
Let’s return to bread fintech now. New payment methods have become available in the baking sector as a result of the growth of digital payments. Technology is being used by mainstream fintech companies to streamline the payment process for consumers, making it more convenient and safe. Mobile payment apps, online ordering platforms, and contactless payment methods are a few instances of bread fintech.
The cost of bread varies in 2021 according to the geography and type of bread. The average cost of a loaf of bread in the US ranges from $1.50 to $3, according to the Bureau of Labor Statistics. But the price of artisanal bread can reach $10 per loaf, and the cost of gluten-free bread may even be higher.
To sum up, bread fintech is a fascinating advancement in the fintech sector that is changing the way we pay for bread. The future of the baking sector is expected to be significantly impacted by bread fintech given the rising prevalence of digital payments and e-commerce. Although the history of bread is intriguing, we are really interested in the potential of bread fintech.