Blockchain

Major US Dairy Co-Op testifies Blockchain Technology for Food Supply

US Dairy

The U.S. based Dairy Farmers of America (DFA), a U.S.national milk marketing cooperative has partnered with food fintech startup ripe.io to testify a blockchain based project aiming to improve the food supply chain activities as per the formal announcement released on 25th September.

Dairy Farmers of America is a cooperative owned by members of a dairy farmer in 48 states with the soaring net income $127.4 million in 2017, while the net sales were more than $14 billion. While in 2017, the cooperative was running the marketing of 64.4 billion pounds of milk that represented approximately 30 percent of the total milk production in the U.S.

With DFA is actively exploring blockchain technology in order to enhance supply chain transparency. The pilot project is organizing a blockchain platform set up by ripe.io. With this, the use of data from a group of DFA member farms and one of the DFA’s manufacturing plants. The Vice President of Sustainability and Member Services at DFA, David Darr, further said: “Consumers today want to know where their food comes from and blockchain technology, like ripe.io, gives consumers real-time data, which can really help increase trust and confidence about food production from start to finish.”

Additionally, Darr noted that currently, DFA aims to assess the technology and explore how the organization can benefit from using it as the new age technology has tremendous benefits in place.

Needless to say that the Blockchain technology has seen a variety of applications in agriculture and food supply chains from various angles. At the beginning of this month, Albert Heijn, Holland’s largest supermarket chain, in partnership with its supplier, Refresco, profusely used the blockchain application to create the production chain of its orange juice transparent and more accountable.

Amid this, recently Cointelegraph reported that U.S. retail giant Walmart and its division Sam’s Club will recommend its suppliers of shady greens to execute a farm-to-store tracking system by organizing it on blockchain by September 2019. Let us not forget that the Walmart will actively be focusing to incorporate a similar visible and traceable system especially for other fresh fruit and vegetable providers next year!!

About the author

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Shalin Soni

Shalin joined CryptoNewsZ as Associate Finance (Cryptocurrency Research & Analysis) in 2018 and has 10 years of collective experience to work on financial modeling and financial planning & analysis activities (fp&a) domains. He has worked with various organizations in India and added values by leveraging his skills and expertise. He has strong domain expertise in research & analysis, valuation, and fp&a. He has worked with various organizations in India and added values by leveraging his skills and expertise. He has strong domain expertise in research & analysis, valuation, and fp&a.
You can also mail him at [email protected] to discuss anything related to his reports.

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