IBM launches its blockchain produce tracker, IBM Food Trust

IBM, the US-based technology company, has released its IBM Food Trust offering for commercial use.

The blockchain-based platform will allow for fresh food to be monitored as it travels through the supply chain.

The platform has been subject to testing for the past 18 months, and is now live – to be used by retailers, wholesalers, and suppliers.

With the launch of technology, companies such as Carrefour – the largest retailer in Europe - Wakefern Food Corp and Topco have all joined IBM’s food network.

“Being a founding member of the IBM Food Trust platform is a great opportunity for Carrefour to strongly accelerate and widen the integration of blockchain technology to our products in order to provide our clients with safe and undoubted traceability,” remarked Laurent Vallée, General Secretary.

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“This is a decisive step in the roll-out of Act for Food, our global program of concrete initiatives in favor of the food transition.”

Walmart announced in September that it urges its suppliers to use the offering in order to track their produce.

The technology allows for information to be traced and shared across the industry, with such as how produce is grown, processed, and travelled.

The technology can reportedly reduce the checking time for provenance from days or weeks to seconds.

IBM Food Trust is priced at $100 per month for small businesses with less than $50mn in revenue, $1,000 per months for medium businesses with up to $1bn in revenue, and $10,000 per month for business giants.