Topco, America’s Largest Food Retailer, Integrates Mastercard’s Food-Tracking Blockchain Solution
Topco Associates LLC partners with Envisible, a food tracking company, to pilot MasterCard’s blockchain platform in its stores countrywide. The platform integrates with Envisible’s Wholechain to offer traceability of food products in its stores in America.
A press release on Oct. 27 states,
“Our provenance solution leverages Mastercard’s established network capabilities, globally-scaled technology, and services, such as payments and counterfeit programs. This allows us to deliver trust, financial inclusion and back-end efficiencies to the marketplace.”
According to the report, the Illinois based retail giant will start off the partnership with Food City, one of its member chains to start off tracking seafood across America to ensure their customers have the best products at their table. The blockchain will focus on tracking cod, salmon and shrimp at the pilot stage.
Topco Pilots Project with Food City
Speaking on the latest use of blockchain in the food industry, Dan Glei, executive vice president, Merchandising and Marketing, Food City, believes the systems will allow easier recalling of spoiled products and help with the identification of batches.
“Using Envisible Wholechain, powered by MasterCard, our grocers will be able to stock shelves with confidence and also be able to pinpoint issues in the food chain during any unfortunate events such as recalls.”
The Vice president of Topco Fresh, Scott Caro said,
“Given consumers’ expectations for reliable information about the food that they eat, we’re excited to partner with Food City and Envisible on this trace and provenance solution pilot, and the promise of Envisible’s Wholechain solution.”
Despite recently pulling out of the Libra Association, MasterCard is increasing its efforts towards building a successful blockchain platform with the Provenance solution. The company was recently ranked as one of the top three companies in blockchain innovation across the globe.
A Close Focus on Blockchain in Food Supply Chain
The food supply industry is gradually moving towards blockchain tech as 2019 saw an explosive number of stores and retailers test the revolutionary technology to trace and track origin of food.
IBM’s Food Trust, a blockchain based platform welcomed Organo, a healthy beverage and drinks company, to track fruits and vegetables from the firm to the bottle. Furthermore, IBM’s leading blockchain tracking system partnered with Captain Eilersten’s fishing company to track every scallop caught.
Despite the innovation in the food tracking systems, there is a need for regulators and set standards in the system. Calls for the Food and Drug Administration (FDA) to make clear regulations on the use of technology in the field were finally heard in September as the agency called for a meeting on the use of AI and blockchain in tracking food.