This week Walmart and JD.com announced today a new effort to improve food safety and traceability using Blockchain technology. These two companies along with IBM and Tsinghua University have formed the “Blockchain Food Safety Alliance,” which will seek to find solutions for improving food tracking and safety in China. This will be an extension of previous collaborative efforts to improve tracking of pork products.
Blockchain alliance seeks food safety for consumers, protection for companies
JD.com is a company headquartered in Beijing that recently reached more than 200 million users. The company is planning to open a large supermarket in Beijing by the end of the year and will as such be spending billions of dollars on food imports over the next several years. IBM will be providing the Blockchain platform with expert advising from Tsinghua University.
Consumers are increasingly concerned with where their food is coming from and under which conditioned it is being processed and transported. The implementation of Blockchain will provide a way to collect data on the source and safety conditions of food. The data collected will be safe and verifiable ensuring data privacy for the companies while also enabling them to provide a traceable record of their products’ whereabouts.
Blockchain for food chain management is not a new idea, but this large implementation shows that the technology will indeed fulfill its potential in the industry.