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Wednesday, August 23, 2017

Food, Retail Aim for Blockchain Ledger Data

A considerable endorsement of a technology.  Where in more general terms is non-food is CPG?   Is this mainly driven by food safety considerations?

Walmart and 9 Food Giants Team Up on IBM Blockchain Plans    by Robert Hackett

Walmart and a group of food giants are teaming up with IBM to explore how to apply blockchain technology, also known as distributed ledger tech, to their food supply chains.

The coalition includes retailers and food companies such as Unilever (UL, -0.19%), Nestlé , and Dole (DOLE). They will be aiming to use blockchains, a technology that made its name as the basis of the cryptocurrency Bitcoin, to maintain secure digital records and improve the traceability of their foodstuffs, like chicken, chocolate, and bananas.

These companies see blockchains as an opportunity to revamp their data management processes across a complex network that includes farmers, brokers, distributors, processors, retailers, regulators, and consumers. One potential benefit: investigations into food-borne illnesses to take weeks (see this summer's fatal Salmonella outbreak linked to papayas), but a blockchain-based system has the ability to reduce that time to seconds.  ... " 

Also, are they ready, legally and otherwise, for prime time? 

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