IBM has launched the IBM Food Trust, a blockchain based food traceability platform for food retailers, wholesalers, and suppliers.
IBM Food Trust uses blockchain technology to create unprecedented visibility and accountability in the food supply chain. It is the only network of its kind, according to IBM, connecting growers, processors, distributors, and retailers through a permissioned, permanent and shared record of food system data.
According to Bridget Van Kralingen, senior vice president for IBM Global Industries, the Food Trust platform provides companies with a collaborative approach allowing blockchain technology to strengthen transparency. "The currency of trust today is transparency and achieving it in the area of food safety happens when responsibility is shared,"
IBM Food Trust has completed 18 months of beta testing in which three million transactions have already been processed on the platform’s ledger.
Food companies already using IBM Food Trust include Tyson Food, Nestle, and Walmart. The platform is available to small-medium size food industry businesses. Subscriptions fees range from $100-$10,000 per month.
IBM Food Trust | 800-426-4968