Tech Giant IBM and Food Retailer Carrefour Join Blockchain Tech Club

After 18 months of testing and research, the U.S. tech giant IBM has recently announced its blockchain led food tracking network namely Food Trust as reported by the company sources on 8th October.

The entire story is not confined up to here. The major food retailer Carrefour based in France operating more than 12 thousand stores in 33 countries is also poised to join the ecosystem. The company is going to testify the blockchain across their own stores. And not only that, Carrefour is actively focusing to leverage blockchain use case across the entire value chain of its brands globally.

With this, the U.S. retail giant, Walmart is considered to be the first retail companies that join IBM in order to testify the entire ecosystem powered through blockchain technology in 2016.

While the new concept under testing, the retailers and suppliers both were requested to use the Food Trust Blockchain in order to access millions of individual food products. Through the use of blockchain use case, Walmart was able to identify and removed all those food items that customers once complained about. In addition, just recently Walmart recommended leafy greens suppliers to execute a farm to store tracking system powered by IBM’s Food Trust System.

In order to streamline the task easier for the entire food industry, the IBM’s Food Trust erstwhile announced the blockchain use case in 2016. Within the testing period which was initiated in 2017, the company created a strategic partnership with Dole Food Co., Nestle SA, McLane Co., Driscoll’s Inc., Golden State Foods, Kroger Co., McCormick and Co., McLane Co., Tyson Foods Inc., and Unilever NV.

The main IBM to foray into the Food industry is that the food sector is only the sector that would really need the new age tech like Blockchain. Amid this, Chinese e-commerce corporation Alibaba has filled various blockchain related patents globally. With this, IBM has been honored to have a patent for a blockchain based monitor system that the company has created and would poise to ward off certain complexities namely security breaches and hacking!!

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!! You can also mail him at [email protected] to discuss anything related to his reports.
Event Information
Event Information
Back to top button