In New York, a group of global food supply chain companies announced a blockchain collaboration with IBM intended to strengthen consumer confidence in the global food system. The consortium includes Dole, Driscoll’s, Golden State Foods, Kroger, McCormick and Company, McLane Company, Nestlé, Tyson Foods, Unilever and Walmart, who will work with IBM to identify new areas where the global supply chain can benefit from blockchain.
Every year, one-in-ten people fall ill – and 400,000 die – due to contaminated food. It can take weeks to identify the precise point of contamination, causing further illness, lost revenue and wasted product.
Blockchain will be able to help address these challenges because it establishes a trusted environment for all transactions. In the global food supply chain, all participants – growers, suppliers, processors, distributors, retailers, regulators and consumers – can gain permissioned access to known and trusted information regarding the origin and state of food for their transactions.