Food giants are betting on digital ledgers to speed recalls and improve accountability
Did the chicken you buy at the supermarket have a nice life, roam free, and eat healthy grains? If you’re the kind of person who cares, Carrefour SA, the big French grocery chain, has the bird for you. Every chicken it sells under its house brand can serve up its own life story, thanks to the wonders of blockchain software. All you need to do for the deets is scan the label with your smartphone.
This is the same technology that serves as the backbone of Bitcoin and other cryptocurrencies. The grocery giant isn’t just trying to appeal to discriminating foodies. It wants to do whatever it can to ensure its products aren’t tainted, part of a broader industry trend espousing the as-yet-unproven promise that blockchain can improve food safety.
Nestlé, Dole Food, Unilever, and Tyson Foods are working with their biggest customer, Walmart, to implement a blockchain platform built by International Business Machines Corp. Kroger and JD.com, China’s second- largest e-commerce operator, are also using the IBM platform. Carrefour developed its own system in-house. “Blockchain will do for food traceability what the internet did for communication,” says Frank Yiannas, vice president for food safety and health at Walmart Inc.
This story is from the 1 May, 2018 edition of Bloomberg Businessweek Middle East.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the 1 May, 2018 edition of Bloomberg Businessweek Middle East.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
Golfing With The Enemy
Did Donald Trump's executives violate the Cuban embargo?
Super-Rich Syrians Wait for War's End
Actor, author, playwright. Gill Pringle tries her hand at unravelling the mystery behind this enigmatic multi-hyphenate
Pam Codispoti
The mastermind behind the industry-shaping Chase Sapphire Reserve Card sets her sights on banking
This Time It's The Economy
President Rouhani’s budget sets offprotests from people angry about unemployment and inflation
Saudi Prince Counts On Support Of Citizens
State-worker salary increases appeal to the people, but policy may throw the budget off track
Stalin's Legacy Is Choking The Ukrainian Economy
The government has resisted pressure to lift a ban on land sales, despite pressure from the IMF and investors
Catastrophe Bonds Survive A Stormy Year
The turbulence of 2017 couldn’t destroy a market for betting against disasters
Riding The West Bank's Credit Boom
Increased consumer lending is creating a bubble in the West Bank
You'd Be Crazy To Buy Pizza With Bitcoin
Speculative fervour makes the cryptocurrency clumsy for commerce
What If The President Loses His Party?
Trump has to figure out a way to work with Republicans in Congress, or the global economy may be at stake