FoodLogiQ Joins Forces with Food Industry Heads to Launch a Supply Chain-Supporting Blockchain Pilot
FoodLogiQ, a project stemmed from Clarkston Consulting in 2006 that values traceability, food safety and transparency solutions within supply chains, has recently announced the launch of a blockchain pilot that can reinvent the food industry.
Many food industry giants have onboarded this effort, some of which includes Tyson Foods, AgBiome Innovations, and Testo. The statement was made at the GS1 Connect, a conference that discusses ways to improve supply chains and the implementation of its respective standards.
As opposed to simply coming up with a blockchain pilot, the team involved believes that the necessary R&D must be considered prior to its launch, which has been set to commence sometime in Q3 2018.
CEO of FoodLogiQ, Dean Wiltse considers that this initiative can help to expand the services currently in place. Wiltse also argued that both its “customers and partners have been invaluable in helping use make critical improvements to the features and functionality of FoodLogiQ’s products”, which was used as a comparison to promote the endless possibilities of the blockchain pilot.
CTO of FoodLogiQ, Charles Irizarry expressed his knowledge of the different firms embracing blockchain technology as well and pointed out the very little recognition within “food supply chain”. He eventually stated that, instead of jumping into a blockchain project with neither prior knowledge nor issues to resolve, the FoodLogiQ team will be “working with current and future blockchain pilot partners to help them navigate the complex landscape…and how blockchain can support their unique business.”
FoodLogiQ’s goals have been communicated effectively since its existence, as the notion of traceability within the food industry has become a necessity. The firm also helped to come up with several plans including the Produce Traceability Initiative (PTI) standards, while contributing to the FDA’s Pilot Projects for Improving Product Tracing along the Food Supply System.
As for the financing, FoodLogiQ has managed to attain a sum of $19.5 million in March 2018, which was supported by the likes of Testo, Tyson Ventures, Nicola Wealth Management, and Greenhouse Capital. At this point in time, the individuals onboard will be taking the necessary steps to expand services across the entire food industry.
For a complete understanding of FoodLogiQ’s strategies, go to: https://www.foodlogiq.com/solutions/blockchain/