Agricultural Kingpin Cargill Invests in Hyperledger Grid Blockchain to Streamline Supply Chains
Agricultural conglomerate Cargill and one of the biggest American companies recently announced that they are going to be investing in digital engineering resource.
Cargill, Incorporated is an American privately held global corporation based in Minnetonka, Minnesota, and incorporated in Wilmington, Delaware.
Some of Cargill's major businesses are trading, purchasing and distributing grain and other agricultural commodities, such as palm oil; trading in energy, steel and transport; the raising of livestock and production of feed; and producing food ingredients such as starch and glucose syrup, vegetable oils and fats for application in processed foods and industrial use.
They also have a large financial services arm that manages financial risks in the commodity markets for the company.
What is Hyperledger Grid?
Hyperledger Grid is a framework. It is an ecosystem of technologies, frameworks, and libraries that work together, letting application developers make the choice as to which components are most appropriate for their industry or market model.
Hyperledger platforms are flexible by design, but, as such, do not speak the language of any business or have opinions on how basic data types should be stored. In reality, enterprise business systems and market models are actually quite mature, as organizations have been transacting electronically based on common standards for decades. Grid will provide a place for implementations of these standards and norms.
It builds upon Hyperledger Sawtooth, a project originally contributed to The Linux Foundation by Intel and maintained by Cargill, Bitwise IO, Intel, and others.
Keith Narr, the vice president of Cargill Digital Labs said:
“Hyperledger Grid is another way to help make food and agricultural supply chains more inclusive – creating new markets for farmers and developing economies. With our wide set of food and agricultural supply chain data, Cargill is leading the industry to work together and improve traceability, trade, food safety, nutrition, farmer livelihoods and more.”
Cargill’s Previous Blockchain Projects
Cargill had earlier experimented with blockchain technology. In November of 2018, they implemented a blockchain system that allowed customers to track which turkey they bought for Thanksgiving Day and Christmas holidays.
Users were able to learn about the farm where Turkeys come from after implementing a blockchain tracking system.