IBM Food Trust™ uses blockchain technology to create visibility and accountability in the food supply chain. It is connecting growers, processors, distributors, and retailers through a permissioned, permanent and shared record of food system data.
It’s built using Hyperledger Fabric (the open source digital ledger technology) and it runs on IBM Cloud.
Supply chain transparency has been a hot topic for several years - particularly with regards to authenticity (think pharmaceuticals...) and environmental or social impact (think child labor in fashion...).
While the immediate selling proposition seems to be cost savings for food product recalls, Frank Yiannas (VP Food Safety for Walmart) says that tracebility is just the start, while transparency is the goal.
Then customers can make better informed decisions and business can differentiate themselves along the supply chain - with blockchain!
Why I like it
Whenever a giant like IBM gets rolling, it is fascinating to see how structured they approach it. While they are technically certainly both solid and advanced, it is the marketing and business approach that fascinates me.
There is a walk-through demo, ROI calculations, case studies etc. available.
They generally start with a major industry partner - in this case Walmart back in 2017. In Oct 2018 now, Carrefour joins in while Nestle, Dole Food, Tyson Foods, Kroger, Unilever seem already on board.
And it needs the big B2B players to significantly improve a complex domain such as food supply chains - and Walmart requires it suppliers to join by Sept 2019...