Blockchain

IBM Food Trust Blockchain Ready to Achieve More Milestones in 2019, Says Nestle

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IBM Food Trust, a modular solution based on the rapidly growing blockchain technology is mulling over its future plans in the year 2019. Switzerland based massive food retail firm Nestle says that IBM Food Trust is looking forward to igniting its expansion on a global level.

The IBM Food Trust initiative consists of eminent members including Unilever and Walmart. The group collectively works to use blockchain on their products. As part of the expansion, the IBM Food Trust is all set to have new members on board including suppliers and retailers. Benjamin Dubois, the digital transformation manager of Nestle, talks about IBM Food Trust blockchain’s performance saying that it has been fulfilling a “consumer demand.” He added that in today’s market, more transparency and trust are essential.

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Nestle had associated itself with the IBM Food Trust initiative last year. The firm holds a strong belief that the blockchain technology can bring advancement in the sector. Nestle also acknowledged the consistent demand for better products from the clients. However, IBM Food Trust blockchain was established since 2016. Walmart in China carried out the trials of its first product in December 2016. IBM Food Trust primarily focusses on enabling the firms to identify the factors causing the contamination of their food and recalls. IBM Food Trust, for instance, can offer better tracking service of the food to find the outbreaks that can harm the food.

With that, the company can fetch information regarding the history of the products, such as crops, processing, transport, and also labeling. The existing technologies are either very slow to complete all these steps or just unable to do it. Dubois further adds that using simply a QR code system, a customer would be able to know, “Not only the origin and composition of the product but which farmer participated in the harvest, when it was made, the date on which the food was processed, the identity of the factory that took care of it, even how many employees the agricultural enterprise has and which ethical certificates the producers hold.” He also affirmed that there are many other technical challenges that are yet to be addressed. This year, the firm is going to tackle them efficiently.

Ruti Vora

Ruti regularly contributes in-depth news articles for leading cryptocurrencies. She contributes technical chart-based price updates and analysis pieces on world's leading digital currencies. She holds graduate degree in journalism.

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