IBM says blockchain will enhance global food safety

22 August, 2017, 22:39 | Author: Becky Perry
  • Networks

Wal-Mart Stores, Kroger Co. and a host of food suppliers on Tuesday said they would collaborate on a blockchain initiative with IBM created to strengthen safety in the food chain.

Large enterprises in the food supply industry, including manufacturers, distributors and retailers, are working with IBM to apply blockchain technology to the global food supply chain in an attempt to improve food safety.

Every year, one in 10 people become ill and 400,000 die globally due to contaminated food, according to the World Health Organization.

Other companies involved include Dole, Driscoll's, Golden State Foods, Kroger, McCormick and Company, McLane Company and Tysons Foods. Multiple IBM pilot projects and production networks that demonstrate the positive impacts of blockchain on food ecosystems will serve as the basis of the consortium's work.

Without a blockchain system, it can take weeks or even months to identify the problem and can cause severe economic damage to many companies.

IBM said this can enable food providers and other members to use a blockchain network to trace contaminated product to its source in less time to ensure removal from store shelves and reduce the spread of illnesses. "It also allows all participants to share information rapidly and with confidence across a strong trusted network", said Walmart food safety vice president Frank Yiannas.

Indonesia upset over flag blunder
Indonesian Youth and Sports Minister Imam Nahrawi also expressed dismay, posting pictures of the mistake on his Twitter account. Indonesia's flag has a red stripe above a white stripe, but it was inverted, making it look instead like the flag of Poland.

In parallel trials in China and the US, IBM and Walmart recently demonstrated that blockchain can be used to track a product from the farm through every stage of the supply chain, all the way to the retail shelf, in seconds instead of days or weeks. Naturally, each of the food retailers emphasised security in their reaction; Scott Stillwell, SVP of food safety and quality assurance for Tyson Goods said that producing safe food was "critical" for their business.

Some fascinating developments are already underway, including projects that use blockchain technology to trace diamonds, wine, coffee beans, cotton, avocados and fish.

"Safety is a key value for Kroger, and our partnership with IBM positions us to explore and test blockchain technology as a solution for enhanced food safety across our business", Howard Popoola, Kroger's VP of corporate food technology and regulatory compliance. It supports the Linux Foundation's Hyperledger Fabric and Hyperledger Composer technologies for building blockchain-based applications.

"We're asking companies to join to help evolve the solution and guide and steer its direction", said Brigid McDermott, vice president of blockchain at IBM. A blockchain is basically one comprehensive, universal receipt.

An architecture that IBM said operates on more than half of today's global transactional systems and allows updates to be made to the network without downtime interruptions to operations. In fact, even under court order IBM can not access the blockchain ecosystem's encrypted data, the company said.

"Unlike any technology before it, blockchain is transforming the way like-minded organizations come together and enabling a new level of trust based on a single view of the truth", said Marie Wieck, general manager for IBM Blockchain, in the announcement of the food chain effort.



Huntington Bancshares Incorporated (HBAN)
Beese Fulmer Investment Management Inc bought 107,508 shares as the company's stock declined 11.04% while stock markets rallied. The bank reported $0.26 earnings per share for the quarter, beating the Thomson Reuters' consensus estimate of $0.23 by $0.03.

Freeport McMoRan leads S&P 500 gainers as metals prices rally
Currently, the stock carries a price to earnings ratio of 56.6, a price to book ratio of 9.31, and a price to sales ratio of 9.55. TRADEMARK VIOLATION WARNING: This story was originally published by TrueBlueTribune and is the property of of TrueBlueTribune.

The Exxon Mobil Corporation (XOM) Stake Boosted by Green Square Capital LLC
With 1,400 avg volume, 4 days are for Porter Bancorp Incorporated (NASDAQ:PBIB)'s short sellers to cover PBIB's short positions. The average Wall Street analyst rating for Exxon Mobil Corporation is Hold, according to the average of 18 analyst scores.

United States sanctions Chinese and Russians over North Korea support
The action means American individuals and companies are no longer permitted to do business with these firms. The Russian firm Gefest-M allegedly procured metals for a North Korean mining company with a Moscow office.

Louise Linton's Couture Draws Ire on Instagram, and She Lashes Back
She called it a day trip and tagged the designer brands she wore in the photo, including Roland Mouret. He also tweeted to Mnuchin, saying, "Hey @ stevenmnuchin1 the government's not your playground".

Watch An Emotional John Cena Get Surprised By His Very Grateful Fans
She says she's been waiting for this match for a long time and as much as she respects Naomi , her time is over. John Cena is extremely dedicated to his fans, and often plans special surprises for them to lift their spirits.

Officials say 1 person, not 2, dead in OR plane crash
The crash occurred Saturday afternoon in the Willow Creek Canyon area, about one mile south of the Madras Airport runway. The amateur-built plane is registered to Mark Rich, according to Federal Aviation Administration records.

Korean troops start drills amid N. Korea standoff
After its first and second ICBM tests in July, it threatened to land missiles in the vicinity of Guam , a U.S. President Donald Trump has told him North Korea would not be attacked without South Korea's approval.

Chelsea Clinton on Barron Trump: Leave My Bro Alone
Which makes the article's assertion that "the least he could do is dress the part when he steps out in public" even more freaky . While Trump was photographed wearing a custom-made suit and tie, Melania Trump was a vision to behold wearing an elegant dress.

Flood emergency issued for Kansas City
By early Tuesday morning, Indian Creek rose to levels beyond the record-setting flood waters in late July. The National Weather Service issued a flash flood warning because of especially risky conditions.