Switzerland’s Largest Retailer ‘Migros’ Announced Its Blockchain Platform
Cryptocurrencies have left a strong mark in the financial market as they continue to flourish in the plethora of domains which one can think of.
Its scope and usage is not just limited to buying and selling in the crypto exchanges but has also become a prominent source of trading for anyone who prefers anonymity and secure operations.
Recently, the digital currency added one more feather to its hat when Switzerland’s largest supermarket chain, Migros, announced its blockchain technology adoption.
Migros was established in the year 1925 and shines as Switzerland’s largest retailer firm. It also establishes itself as the biggest employer in the private sector arena as it boasts of 100,000 employees in its payroll. The supermarket chain works as a cooperative society where two million members strive for the progress of the company.
The supermarket giant made it official that it has collaborated with food traceability platform, TE-FOOD, to introduce a blockchain-secured network for strengthening its food safety parameters. The concerned project aims to ensure high returns for Migros as well as its supply chain partners.
The announcement stated:
TE-FOOD is the world’s largest publicly accessible, farm-to-table food traceability solution. [It] serves over 6,000 business customers, and handles 400,000 business transactions each day.
According to the reports, the distributed ledger technology-centered food traceability software adopted by Migros will facilitate the company’s fruit and vegetable supply chain.
Migros in its announcement stated that traceability projects are not a new thing in the food industry as different food companies have come up with such projects earlier too. However, they only focused on delivering information about the products to the consumers.
But, in an attempt to bring a revolution in the food traceability software, Migros blockchain-centered platform, promises to provide a more systematized and efficient supply chain which will foster its business operations.
The blockchain adoption will cater to the distribution channels by making the delivery process safer and well-planned.