The food industry is gearing for a new concept, as IBM reveals its blockchain based food supply network called IBM Food Trust, amidst the global call for transparency and efficiency in the industry.
A Move In The Right Direction
The new IBM food trust is a welcome development; this is because it is generally unique and different from the other norms that are available in the market. The new network tends to offer the major players in the food industry (retailers, suppliers, growers) with needed data that will aid them to achieve their desired objective.
The long process of tracking of food back to its sources is a major Achilles heel in the industry, the process normally takes days to trace, but with the new IBM food network, food can be traced back to its sources in a matter of seconds.
Transparency is another critical matter that the new network has been able to combat. The network is designed in such a way that multiple parties will have to endorse a transaction, this will ultimately create trust in the process, in an industry that’s been yearning for such in a long time.
Bridget van Kralingen, Senior Vice President, IBM Global industries, Clients, Platforms, and Blockchain stated that:
“The currency of trust today is transparency and achieving it in the area of food safety happens when responsibility is shared. That collaborative approach is how the members of IBM food trust have shown blockchain can strengthen transparency and drive meaningful enhancements to food traceability. Ultimately that provides business benefits for participants and a better and safer product for consumers.”
IBM is spreading its horizon and looking beyond making food safe for consumption. The network is looking towards achieving a fare feat in looking at the freshness of foods, combating the menace of food wastage, and ensuring that the supply chain is no monotonous but collaborative.
The firm is looking towards maximizing shelf life, optimize the supply chain and provide quick response to food recall to reduce food waste ultimately. On food sustainability, the network will help to identify inefficiencies, ensure the quality of goods, track the authenticity of products and certify provenance across the entire supply chain.
The move by IBM is cogent to the survival of most consumers, because food poisoning is one of the most treated cases in the world, and if the security and transparency of the food processors are not taken as a priority, the industry might be fighting a lost cause.