Blockchain and the future of the food supply chain

At its core, blockchain is “a public register in which transactions between two users belonging to the same network are stored in a secure, verifiable and permanent way.” The data from those transactions are saved in cryptographic blocks that are connected to each other, and can then be traced and verified. In the food industry, blockchain can be applied to the supply chain since it allows growers, suppliers, manufacturers, and end-users to easily and efficiently verify where an ingredient or product has been.
Technology company IBM is charting a new course for the food retail industry through the use of blockchain tracking. Walmart, Kroger, Tyson Foods and several other CPG companies have teamed up with IBM to undertake a blockchain project that could help ensure food safety and transparency within the supply chain. IBM made its Food Trust technology available to the masses earlier this month, with the cooperative of growers, suppliers, and retailers able to collaborate by securely sharing critical data about food products on the blockchain, according to the company.