Blockchain, Featured

IBM Food Trust Blockchain Technology-based Solution To Improve Food Traceability

Albertsons Companies, Inc. is a US-based grocery company who will use an IBM Food Trust blockchain technology-based solution to improve food traceability. Both companies will conduct an initial pilot to trace romaine lettuce. The solution is built upon an open source and permissioned blockchain called Hyperledger Fabric.

Albertsons Companies, Inc. is considered as the largest food and drug retailer operating stores in 34 states. It also operates stores in the Columbia District under 20 banners and some of the banners are Shaw’s, Acme, Safeway, Randalls, Tom Thumb, Pavilions.

International Business Machines (IBM) is considered as the leading open-source blockchain solutions provider who has worked with a wide range of industries [retail, healthcare, digital rights management, supply chain, financial, government, etc].

The General Manager at IBM Food Trust said, “Establishing IBM Food Trust and opening it to the food ecosystem last year was a major milestone in making blockchain real for business. Today, we are focused on ensuring that the solution scales and is accessible to participants across the food ecosystem, such as Albertsons Companies. By bringing more members into the network and enabling them to share greater cross-sections of data in a secured environment, we believe our vision of a transformed food ecosystem using blockchain is closer than ever.”

Participants can share digital, distributed and immutable data in the food supply chain. They can trace and authenticate products.

A blockchain network is considered as the strongest to form a transact ecosystem of different participants. Participants can collaborate with each other in the network in a secured and transparent manner.

A record of transactions will be timestamped in the blockchain. Different kinds of food system issues will be addressed due to more participants to use the blockchain. All these issues can be related to supply chain efficiency, freshness, waste reduction, sustainability, PR Newswire reported.

IBM Food Trust is a network created to bring growers, processors, wholesalers, distributors, manufacturers, retailers, etc. into one platform. The main purpose of the network is to improve transparency and accountability of the food supply chain, according to the official website of IBM.

[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. ]
coinmag

Shabnam Dhar is a Copy Editor for OWLT Market.

Leave a Comment

Your email address will not be published. Required fields are marked *