Ripe, R3 Partner to Make Food & Agricultural Supplies Efficient Via Microsoft Azure Blockchain
Blockchain adoption continues to grow at a faster than expected rate with new and old forces joining to solve bigger problems. One of the recent collaborations in this field by R3 and Ripe Technology (ripe.io) is set to revolutionize the food supply industry.
The two players who are software and blockchain specialists respectively target to enhance the agricultural sector ecosystem with the latest Fin Tech (blockchain)!
This partnership will enable ripe.io to use the Corda Enterprise which is offered by R3 in addition to Microsoft Azure product. One of the competitive edges that stood out for ripe.io in this selection is Corda’s privacy and scalability levels. The platform is convenient for large customers such as agricultural firms and retailers who would want to join the ecosystem.
Furthermore, both ripe.io and R3 will leverage the distributed ledger systems to effectively serve potential clients. According to the founder and CEO of R3, David Rutter, the move marks a major endorsement for his team;
“This is another important vote of confidence in R3's technology to deliver results and build a more efficient food supply chain,”
He further noted that ripe.io is a significant player in the development of blockchain ecosystems for agriculture and they were glad to have them on board through the Corda Enterprise,
“As a blockchain platform built with the rigorous privacy demands of global business in mind, Corda Enterprise is the perfect platform for their efforts. We are excited to welcome ripe.io to the R3 community and to expand our ecosystem into food,“
Ripe Technology will now be able to leverage services that can update on the transportation process of food products. Clients can check on how sustainable, the quality, and the whole moving process of an agricultural product they had ordered.
In addition, R3 will acquire a new market which includes agricultural players as opposed to the old share dominated by Fin Tech firms. This means that the Corda Enterprise ecosystem will accommodate new contributions and interactions within its ecosystem hence value addition to its platform in the long-run.
On the other hand, Tech giant Microsoft will facilitate blockchain scalability for these two players through the company’s cloud services. The services offered will range from blockchain to data management and cyber security. Ripe Tech and R3 will also use advanced features such as Artificial Intelligence to enhance transparency levels in the distributed ledger supply chains.
Ripe Technology CEO, Raja Ramachandran, expressed optimism in this collaboration noting that both Microsoft and R3 are major players in the evolution of ripe.io. He added that both companies bring new energy to Ripe’s strategic plans and are expected to push the firm’s food supply innovations to the next level.
Microsoft’s Azure Principal PM Manager, Craig Hajduk, added on the positive sentiments noting their company’s competitive advantage in security and data handling. Craig said that ripe.io has an innovative idea which was a motivation for this partnership.
R3 and Ripe Technology in Detail
R3’s business revolves around blockchain development, the firm’s platform (Corda Enterprise) facilitates participation from various players including the public industry. The platform built for commercial purposes is an open-source hence easily accessible. At the moment, R3’s team is based in 13 countries with over 150 experts contributing to the firm’s growth.
Ripe Tech which is funded by Relish Works and Maersk Ventures has physical locations in New York and San Francisco. The firm’s goal is to develop a food supply ecosystem that eliminates uncertainties through tracking processes and guarantees quality delivery as per the packaging.