IBM Expands Blockchain Food Trust Network to a Global System

IBM announced the growing adoption of its food value chain network, the IBM Food Trust. The cloud-based blockchain network provides retailers, suppliers, producers and food industry suppliers with data from the entire food ecosystem.

According to the company, the network is now available after 18 months of testing, during which millions of individual food products were tracked by retailers and suppliers.

The ecosystem of network participants continues to grow and one of the leading global retailers, Carrefour, has announced that it will use the IBM Food Trust's Blockchain network to strengthen its actions. As one of the world's leading retailers with more than 12,000 stores in 33 countries, Carrefour stores will use the solution to highlight consumer confidence in various branded products.

By using Blockchain for reliable transactions, food can be quickly traced back to its origin in a few seconds, rather than days or weeks. Unlike traditional databases, Blockchain attributes and the ability to allow data allow network members to gain a new level of reliable information. Transactions are endorsed by several parties, leading to a single unchanging version of the truth.

"The currency of confidence today is transparency and achieving it in the area of ​​food security happens when responsibility is shared," explained Bridget van Kralingen, senior vice president of IBM Global Industries, Customers, Platforms and Blockchain. "This collaborative approach was a way for IBM Food Trust members to show that Blockchain can strengthen transparency and drive significant improvements in food traceability. Ultimately, it provides business benefits to participants and a better and safer product for consumers".