• Sun, 22 Sep 2019, 08:52 PM
  • All times are UTC
  • Edition:
    International
Copy link
Increase text size
Decrease text size
Link copied

Smithfield Foods joins Subway, Tyson Foods and others in Food Industry Blockchain Consortium

Photo: LM Otero/AP

Thu, 15 Nov 2018, 09:12 am UTC

Global food company Smithfield Foods has joined a new blockchain consortium focused on the food industry.

FoodLogiQ, a SaaS provider of traceability, food safety and supply chain transparency solutions, in collaboration with a number of food industry leaders including Tyson Foods, AgBiome Innovations, Subway/Independent Purchasing Cooperative, Testo, and others, has launched the Food Industry Blockchain Consortium.

Testo and Tyson Foods participated in FoodLogiQ’s $19.5 million financing round earlier this year, which also drew support from Pontifax AgTech, Nicola Wealth Management, and Greenhouse Capital, among others.

In June 2018, FoodLogiQ launched a blockchain pilot with the consortium members to test the application of blockchain to raise transparency within their supply chains. Smithfield Foods is the latest to join this initiative.

"The perspective they [Smithfield] bring to the table is invaluable, and as we continue moving forward with this pilot, we'll draw on Smithfield's production knowledge and their supply chain expertise to help guide our collective blockchain efforts,” Jamie Duke, FoodLogiQ CEO, said.

According to the official release, blockchain technology will enable companies to tell the story of a product's journey with a high degree of certainty and validity. It will also facilitate automation of recordkeeping and traceability systems and eliminate the manual, paper-based processes that often slow down the resolution of a food safety outbreak or issue.

"Our partnership with the FoodLogiQ consortium allows us to be part of an ecosystem driving the deployment of blockchain within the food industry, further underscoring our commitment to producing good food the right way,” said Julia Anderson, global chief information officer for Smithfield Foods.

The inaugural meeting of FoodLogiQ's Food Industry Blockchain Consortium will take place on December 13 - 14 in Durham, North Carolina. Duke said that the meeting will focus on the consortium’s strategy, developing roadmap of short- and long-term goals, and determining how to use the data collected during the R&D process to help ensure success for the group as a whole.

Earlier this year, global food giants Walmart, Nestlé, Tyson Foods, Unilever and others, along with IBM, teamed up for “Food Trust” initiative that aims to develop a blockchain to improve the supply chain management of food products. In late 2017, IBM, in collaboration with Walmart, JD.com, and Tsinghua University National Engineering Laboratory for E-Commerce Technologies, announced a Blockchain Food Safety Alliance in China.

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
More
  • Bitcoin (BTC) $10,047.50 (+0.24%)
  • Ethereum (ETH) $208.52 (-3.68%)
  • XRP (XRP) $0.275200 (-5.00%)
  • Bitcoin Cash (BCH) $305.62 (-1.99%)
  • Litecoin (LTC) $72.29 (-1.23%)
  • Bitcoin (BTC) $10,047.50 (+0.24%)
Sep 20, 2019 (Friday)
14:09
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
14:08
Crypto Technicals: LTC/USD Technical Analysis Summary
12:44
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
11:57
Azerbaijan's State Customs Committee seeks to exchange information with global counterparts via blockchain
10:17
Coinbase considers listing 17 new digital assets including Kadena and Telegram
10:08
Crypto Technicals: ETH/USD consolidates previous session's gains, bias bullish above 200-DMA
09:56
US Congress’ upcoming hearing with SEC to focus on cryptocurrencies and Libra
08:41
Crypto Technicals: BTC/USD retraces from 3-week lows, resumes range trade, bias neutral
07:01
Square Crypto taps former Google, Facebook and Lightning Labs execs for inaugural developer team
06:22
Crypto Technicals: XTZ/USD struggles at 200-DMA resistance (1.1209), break above to see further gains
06:22
Bank of America joins blockchain-based trade finance network Marco Polo
05:25
Patrick Byrne sells off his $100M Overstock stake to buy cryptocurrencies, blames 'deep state' and SEC
05:14
Early ethereum supporter Steven Nerayoff faces $12M cryptocurrency extortion charges
05:09
Crypto trader Genesis acquires Qu Capital to bolster trading technology
04:30
Crypto Technicals: IOT/USD Technical Analysis Summary
03:43
Pakistan's Faysal Bank becomes the country's first bank to adopt Ripple's xCurrent technology
03:40
All 7-Eleven stores in the Philippines now sell bitcoin, thanks to the new partnership of Abra, ECPay
03:37
Arab Bank Switzerland partners with Taurus to offer cryptocurrency services to its wealthy clients
03:34
IBM, Citibank, Ubisoft signed up as corporate partners of Singapore's blockchain accelerator Tribe
Sep 19, 2019 (Thursday)
12:27
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft