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Global Retailers Join Blockchain Initiatives For Enhancing Transparency In Supply Chain

Unique and innovative blockchain initiatives have gained the trust of the firms across the world embracing this global technology which has become omnipresent across all the commercial sectors of the world. The world leading retail giant Nestle has also joined the bandwagon of blockchain enabled IBM Food Trust initiative which is helping in creating awareness of this technology along with its deployment for a better operational platform. Other leading global retails as Unilever and Walmart have already opted for the membership of this initiative.

IBM Food Trust blockchain was created with an objective of developing better accountability and unprecedented visibility in the food supply chains. This network develops a connection between growers, distributors, processors and retails in which there is a free flow of information. This connection is both permanent and permissioned to share the records and food system data across the network.

Nestle’s digital transformation manager of global supply chain, Benjamin Dubois state that this project has been advanced because of customer demand in bringing more transparency and developing trust. He added that the company identified blockchain which can play a significant role in fulfilling these expectations. IBM’s blockchain initiatives taken by IBM have gained huge success and popularity in recent times as mentioned by Cointelegraph.

Nestle is gearing up to strengthen their ability in identifying challenges involved with food recalls like monitoring outbreaks proactively to reduce customer risk. One peculiar feature of blockchain is that it is highly capable of monitoring the chain and enhancing the transparency of the entire system. This platform is a wonderful tool for retailers to manage data and gain digital trust in real time.

IBM’s Food Trust platform

There are several other supply chain solution providers that have come forward in extending support for IBM’s Food Trust platform that is powered by blockchain technology. According to Fresh Plaza, one of these providers is LinkFresh which has supported this blockchain initiative to enhance and secured grower-to-retailer traceability.

[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. ]

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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