How IBM Is Bringing The Blockchain To Major Food Retailers

How IBM Is Bringing The Blockchain To Major Food Retailers
Banks, Insurance & Financial Services

The goal of the project is to promote transparency and accountability

Lauren Kirkwood
  • 28 august 2017

IBM has announced that it is collaborating with a number of companies, including Dole, Golden State Foods, Kroger, McCormick and Company, Nestlé, Tyson Foods, Unilever and Walmart, to bring blockchain technology to the food supply industry.

The company believes that blockchains would promote greater transparency in the food delivery space, eventually leading to increased consumer confidence that the food customers buy from their local grocery store is healthy and safe to eat.

“Blockchain technology enables a new era of end-to-end transparency in the global food system — equivalent to shining a light on food ecosystem participants that will further promote responsible actions and behaviors,” Frank Yiannas, Walmart’s VP for food safety, wrote in the announcement. “It also allows all participants to share information rapidly and with confidence across a strong trusted network.”

IBM plans to use the initial collaboration to determine where blockchains could be most beneficial to companies and to consumers. One hope is that with the use of blockchains, food contamination issues could potentially be prevented before they impact a significant number of people.

The company has already launched several pilot programs specific to food safety, including one geared toward improving the way food is tracked, transported and sold to Chinese consumers. In another test, Walmart determined that using a blockchain to trace the farm of origin of a package of mangoes took 2.2 seconds, while it took almost seven days using traditional methods.

Food supply chains appear to be the next logical arena for blockchains, which have already influenced a number of other industries, from real estate and banking to health care and education. An IBM study released earlier this year found that one in three companies are considering how using blockchains could improve their business.

IBM

IBM has announced that it is collaborating with a number of companies, including Dole, Golden State Foods, Kroger, McCormick and Company, Nestlé, Tyson Foods, Unilever and Walmart, to bring blockchain technology to the food supply industry.

+blockchain
+consumer goods
+finance
+financial services
+Food
+food delivery
+IBM
+retail
+Seamless Delivery
+technology
+Wal-Mart
+Walmart

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