United States food and drug chain Albertsons companies recently became the latest client retailer of IBM’s Food Trust Blockchain platform. The news was announced in a press release published on April 11. The latter has a chain of 2,300 stores across the U.S. The firm plans to expand on the usage of blockchain with other products but initially it will use the suppy chain to track romaine lettuce.
The latter also has a clientele of 80 in a rapidly chaning industry. The firm further notes that over five million products are now tapping blockchain for delivery processes.
“Blockchain technology has the potential to be transformational for us,”
CIO Anuj Dhanda expressed his enthusiasm and said that food safety is a major step and the ability to track movementa from farm to the customer’s basket is very empowering for customers. Food Trust represents just one of several blockchain-focused enterprise solutions IBM has developed in recent years.
The platform testing began in 2016 with Walmart in China, and other food giants such as Nestle subsequently coming on board, the latter hinting about the user base expansion in January.
“Establishing IBM Food Trust and opening it to the food ecosystem last year was a major milestone in making blockchain real for business. Today, we are focused on ensuring that the solution scales and is accessible to participants across the food ecosystem, such as Albertsons Companies.”
Raj Rao, Food Trust’s general manager, stated in today’s press release.
In another news reported by CoinMarketFeed, on February 25th, Mercedes Benz developed a blockchain-based platforms for getting sustainability and transparency in complex supply chains.
For the same the leading German automobile brand has partnered with Icertis, a US based software enterprise for building the supply chain use case.The synergy will accordingly allow for simplified storage of contacts and documents in complex supply chains.
As per the statement Daimler AG, a German multinational automotive corporation and the owner of Mercedes Benz has already been tapping blockchain’s prowess. In 2017, Daimler AG and Landesbank Baden-Württemberg (LBBW) used blockchain to execute a €100 million "corporate Schuldschein" transaction, in lines with regulatory compliances.
Albertsons Companies LLC is headquartered in Boise, Idaho. It is privately owned and operated by investors, including Cerberus Capital Management.With more than 2,200 stores and more than 250,000 employees, it is the the second-largest supermarket chain in North America after Kroger, which has 2,778 stores. Albertsons ranked 53rd in the 2018 Fortune 500 list of the largest United States corporations by total revenue.