5 things to know about the IBM Food Trust Blockchain service

Amidst the rising popularity of cryptocurrency, many major corporations are exploring the underlying technology of distributed ledgers, also known as blockchains.

IBM is utilizing the new fool-proof tracking method to utilize blockchain in the food industry.

Monday, IBM announced the launch of IBM Food Trust. This will make it easy for food companies, large and small-medium enterprises, to use the network to help track foods from the farm to the checkout line.

Here are five fast facts you need to know:

  • 1. The subscription fee for the service ranges from $100 to $10,000 a month depending on the size of the company.
  • 2. IBM has a contract with Carrefour, a European supermarket with locations in 33 countries and 12,000 locations.
  • 3. Carrefour plans to use the IBM blockchain to track their branded products in France, Spain and Brazil within the next four years.
  • 4. Other major food companies such as Nestle, Dole, Tyson Foods, Kroger, Unilever, McCormick, and Walmart are also working with IBM to utilize their blockchain- based tracking methods.
  • 5. Blockchain tracking of foods will help improve the transparency between consumers and retailers. Also, It is useful in tracking down the origin of food-borne illnesses.

The best part about the utilization of blockchain in the food industry is enabling people to trace products backwards and forward through a supply chain!

 

 

1 Comment
  1. Anthony Sublett 6 days ago
    Reply

    That great that they will be able to track foods like that, especially will all the recalls that go on all the time with our food!!!

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