IBM Partners With Food Giant J. M. Smucker to Trace The Supply-Chain Of Colombian Coffee
The $12.2bn food giant – JM Smucker Company – has partnered with IBM to utilize its blockchain track-and-trace capabilities to help them trace the supply-chain of the Colombian coffee they import.
The partnership would primarily help the farmers who grow these Smucker’s coffee beans with donations to a variety of local communities to help them build critical infrastructure for their community like better schools, clean water filtration systems, and much more.
The blockchain traceability system built by IBM is developed on the Hyperledger fabric-based IBM Blockchain Transparent Supply to ensure the farmers cultivating the coffee get appropriate compensation.
Paul Chang, IBM Global Blockchain Industry Leader, commented on their recent partnership and how they aim to help the livelihoods of farmers associated with coffee farming. He said:
“We are applying digital tech to trace the coffee and ensure the farmers are being paid properly.” Chang continued,
“But this initiative takes it a step further, allowing the consumers to engage the farmers directly and potentially impact their livelihoods. I think this is the next generation of an equitable circular economy.”
The Growing Demand For DLT in Fodd Supply Chain Business
The demand for decentralized tech in tracing the food supply chain has seen exponential growth over the years and IBM, a mainstream tech firm, has become one of the most prominent collaborators with various food and beverage companies for its enterprise-grade food-supply chain solutions.
With the incorporation of blockchain in the food-tech business, there has been a great sense of transparency for the customers who can now see the origin of their food, the place where it manufactured, and many other details with a simple QR code scan.
Chang, while talking about the tech they develop and its advantage over others, explained:
“There are a lot of blockchain projects out there to do with traceability, but not many of them are production-ready. Often, it’s some startup company that has cobbled something together, saying, ‘Hey, look what we can do.’ We are several years on with this and doing millions of live transactions.”