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Blockchain gives all stakeholders the ability to trace food back within seconds instead of days or weeks. Transactions are endorsed by multiple parties, leading to an immutable single version of the truth.
“The currency of trust today is transparency, and achieving it in the area of food safety happens when responsibility is shared,” said IBM Global Industries Clients, Platforms and Blockchain SVP Bridget van Kralingen. “That collaborative approach is how the members of IBM Food Trust have shown blockchain can strengthen transparency and drive meaningful enhancements to food traceability. Ultimately, that provides business benefits for participants and a better and safer product for consumers.”
Beyond the goal of making food safer, the IBM Food Trust network and accompanying solutions have expanded to focus on optimizing the food supply. This includes generating insights on product freshness, reducing waste, and making the supply chain more collaborative and transparent.
Keasby, N.J.-based Wakefern Food Corp. comprises 50 members that independently own and operate 350 supermarkets under the ShopRite, The Fresh Grocer, Price Rite and Dearborn Market banners in eight northeastern states. The company is No. 7 on Progressive Grocer's Super 50 list of the top grocers in the United States.
Based in Elk Grove Village, Ill., Topco Wholesale Associates LLC is a $14 billion, privately held, member-owned company that provides aggregation, innovation and knowledge management solutions for its food industry member-owners and customers, including grocers, wholesalers, foodservice operators and pharmacy companies.