IBM Food Trust is blockchain technology to reduce food waste

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IBM today rolled out new blockchain software. The technology giant is coming up with the IBM Food Trust, a software package built to map food supply routes. It is the latest addition to the blockchain ecosystem and one that should help to reduce food wastage.

The IBM Food Trust must connect the entire food industry: from farmers to food processors, sellers, suppliers and supermarkets. All this in a shared database that should ensure better food safety, freshness, sustainability and less food waste.

In exchange for a monthly contribution, companies can identify the origin, location and status of food products in the supply chain. The amount that has to be paid to be part of the Food Trust is between 110 and 11,000 dollars per month. IBM argues that the new platform is also capable of supporting companies that generate more than $1 billion in annual revenue.

One of the companies participating is the large supermarket chain Carrefour. According to ZDNet, Carrefour will add more than 12,000 stores in 33 countries to IBM’s ecosystem. For this, the company pays the one-off entry fee of $5,500. IBM helps the company adapt its systems and add them to the Food Trust.

Broad adoption

The IBM Food Trust is built on the basis of the already existing IBM Blockchain Project. This in turn is a business version of the ethereum blockchain. IBM technology is being applied more and more widely; for example, the banking sector is taking over the software to see if it can be used for international transfers.

At the same time, IBM is anything but the only company to jump on board the blockchain train. Also, Amazon, Google and Microsoft compete for the favor of other companies and have similar blockchain-as-a-service products in their portfolio.

This news article was automatically translated from Dutch to give Techzine.eu a head start. All news articles after September 1, 2019 are written in native English and NOT translated. All our background stories are written in native English as well. For more information read our launch article.