IBM expanded its food supply chain network, IBM Food Trust, now generally available after 18 months in testing. Carrefour will roll out the solution to all of its brands worldwide by 2022, while Topco Associates, Wakefern, and suppliers BeefChain, Dennick Fruit Source, Scoular, and Smithfield also joined the blockchain traceability program.
IBM notes that food can be quickly traced back to its source in as little as a few seconds instead of days or weeks using blockchain. Unlike traditional databases, the attributes of blockchain and the ability to permission data enables network members to gain a new level of trusted information. Transactions are endorsed by multiple parties, leading to an immutable single version of the truth.
The IBM Food Trust network's initiatives also include generating insights on product freshness, reducing waste, and making the supply chain more collaborative and transparent.
Related: Walmart Asks Greens Suppliers to Join Blockchain; Future Fridays: Mike Lee on Blockchain.
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