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Food Industry Companies Rely On Blockchain For Improvising Traceability In Supply Chain

Food industry companies are making advanced research and development in the field of blockchain technology which can facilitate better monitoring and efficient supply chain management. Indeed, it has great potential to transform this business vertical and it has already begun making the revolutionary shift with companies like Carrefour and Walmart. These companies have initiated a blockchain driven pilot project that will focus majorly on traceability in the supply chain.

These esteemed pilot projects are supported by the IBM-developed blockchain technology which is also dubbed as the IBM Food Trust blockchain network. This is nothing less than a game changer of this domain and it has been rapidly picked up by the market leading companies as per their requirements. This blockchain powered cloud-based platform put forward the data and information of the entire food ecosystem with enhanced traceability and efficiency.

Undoubtedly, food industry companies have come a long way with the integration of ledger technology within their systems. Vice President at Blockchain Solutions at IBM Ramesh Gopinath supports the fact that blockchain-based platforms are commercially available and viable as well. He further added that the IBM Food Trust is a completely reliable information sharing platform in a food ecosystem. Some of the major concerns of this industry are food safety, food fraud and food waste which can be monitored effectively with the help of the IBM blockchain platform, as mentioned by Food Ingredients First.

How Blockchain Can Curb The Food Industry Concerns?

Most of the problems in this domain go unnoticed due to lack of timed information as by the time many of the products are rotten. An effective supply chain management system is definitely capable of saving food from wastage and allocating them at the right place before their expiry.

According to Carrefour, one such project has just commenced by Carrefour as it launched its first blockchain food traceability system for the campero chicken reared without antibiotic treatments. The company has undertaken the services of IBM Food Trust platform for this task.

Food industry companies are considering food blockchain pretty seriously and there might be more such amazing new updates in the near future.

[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]
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Neha graduated in Electronic Media and has worked with Times group for 3 years with an overall experience of 6 years. She is passionate about learning languages and is a certified French Language Expert and IELTS Trainer. Neha writes breaking cryptocurrency news stories for OWLT Market.

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