Blockchain technology has the potential to revolutionize the food supply chain as manufacturers are forced to respond to consumer pressure around transparency of sourcing and the supply chain in general. This is according to Ramesh Gopinath, Vice President at Blockchain Solutions at IBM, who spoke to FoodIngedientsFirst at the Future Food Tech Summit in London last month. He discussed the launch of the IBM Food Trust platform, which is now commercially available.
A number of retailers, logistics firms and growers are working with IBM-developed blockchain technology – the IBM Food Trust blockchain network – adopting the game-changing technology to improve traceability of certain food products in the food supply chain. The blockchain-based cloud network offers businesses and food industry providers with data from across the food ecosystem to enable greater traceability, transparency and efficiency.
Last month, FoodIngredientsFirst reported that Europe’s largest retailer, Carrefour, is adopting blockchain which will quickly help trace food back to its source within seconds, unlike traditional transactions, with plans to expand to all Carrefour brands by 2022. The network is now generally available after 18 months in testing, during which retailers and suppliers have tracked millions of individual food products.