IBM Launches Blockchain Traceability Network for the Food Industry

IBM announced the availability of Food Trust on IBM blockchain platform. This system should be able to decrease the time to trace food products in a transparent way. Food Trust is a decentralized model, permission-based, allowing multiple participants to share food origin details, processing data, and shipping information on the network. The Food Trust includes compatibility with the GS1 standard to ensure interoperability for traceability systems. It allows users the ability to access an unbroken sourcing record for all products. In case of a product recall, the time saved by increased efficiency and in some cases perhaps save lives. By automating the recording of transactions via the blockchain, an entire network of trading partners has access to critical data in near real-time. While some wonder if there is a business application for the technology, a number of companies that are testing the technology. IBM is also working with equipment suppliers to contribute sensor data to its blockchain. An IBM representative said, “It is allowing more collaborative transactions so that organizations that once completed can now work together on the same network to build efficiencies, achieve compliance, and reduce costs.” @ https://www.foodqualityandsafety.com/article/ibm-launches-its-blockchain-traceability-network/?elq_mid=31353&elq_cid=10195538