IBM Food Trust™, built on blockchain, benefits all network participants with a safer, smarter, and more sustainable food ecosystem. The digitization of transactions and data provides a more efficient way of working across the supply chain, including growers, processors, shippers, retailers, regulators, and consumers.
The solution provides authorized users with immediate access to actionable food supply chain data, from farm to store and ultimately the consumer. The complete history and current location of any individual food item, as well as accompanying information such as certifications, test data and temperature data, are readily available in seconds once uploaded onto the blockchain.
The software-as-a-service (SaaS) solution is working to ensure that trust enables, rather than hinders, the expanding food system. With capabilities for safer food, longer shelf lives, reduced waste, faster traceability, and better access to shared information, IBM Food Trust can empower you to meet the new standard for transparency and trust.
“It is not just about building the technology, it is about building the ecosystem,” Brigid McDermott, vice president for blockchain business development at IBM, said.
Wal-Mart said in June that blockchain trials had helped it narrow the time it took to trace the movement of mangoes to 2.2 seconds from about seven days.
A single recall could cost anything from tens of thousands to millions of dollars in lost sales, Wal-Mart’s head of food safety, Frank Yiannas.