IBM has announced that it is launching a Blockchain consortium focused on improving food safety. Some of the prominent global retailers and food suppliers are partnering with IBM in this consortium to explore how the food supply chain can benefit from Blockchain technology. The alliance includes leading brands like Nestle, Unilever, Walmart, Tyson Foods, McLane Company, Dole, Kroger, and many other established global food suppliers.
IBM uses its cloud platform to deliver its Blockchain tech for the beneficiaries. The goal of the consortium is to ensure that everyone involved in the food supply chain- growers, suppliers, processors, distributors, retailers, regulators and consumers- get access to the required data from production to consumption of the food product, at any point of time. Businesses look at the potential of Blockchain as a fast-growing technology that helps them to improve traceability and transparency.
Last year, IBM ran several Blockchain pilots in industries like trade, pharma and retail. Some of the trials have proved that tracking the quality of a food product from production to distribution could be achieved in seconds. This kind of efficiency allows retailers to immediately recall polluted food products from their shelves. Implementing Blockchain in the food ecosystem allows participants to track and share information rapidly across a trusted network.