IBM Applies IBM Food Trust Blockchain Platform
October 10, 2018
After 18 months of testing the IBM corporation has presented a new blockchain platform Food Trust based on Hyperledger Fabric which is to allow users trace product supply chains for a fee varying from 100 to 10,000 dollars a month. The platform is supposed to be actively used by traders and importers.
France-based trade network called Carrefour was the first one to found and take part in the project. The net covers 33 European states and considers it as the basis for its own Act forGood ICO project. The organization is going to switch all its divisions to blockchain in four years. Topco Associates, Wakefern, Smithfield, Dennick Fruit Source and other ones have joined the organization to explore the platform.
According to IBM, the platform will bring profits to its users as well as reliable high-quality products due to better transparency during shipment. The IBM Food Trust comprises three units, i.e. supply tracking, certifying and data processing.