One of the major hurdles faced by companies in the food industry is the difficulty to effectively manage the components of the food supply chain from farm to fork. As a result, the quality and safety of food being produced is always a concern.
To keep food safe through the complicated supply chain process, emerging blockchain solutions are coming together to make sure that food manufacturing and distribution are effectively managed using blockchain technology. Blockchain has the potential to track the parties involved in the mass production and distribution of food to identify the source of potential contamination during food safety scares.
One of the companies leading this monumental movement is FoodLogiQ. The firm operates as a Software as a Service (SaaS) provider for services such as food traceability, food safety compliance, and supply chain transparency solutions to companies in the food value chain. FoodLogiQ blockchain pilot was launched last month in partnership with some of the largest companies in the food industry as well as a small group of the firm’s customers.
Among the companies involved in testing the application include Subway/Independent Purchasing Corporative, AgBiome Innovations, Tyson Foods, and Testo.
The pilot, which is set to commence in Q3 2018 will see participants explore the opportunities and the challenges of integrating the distributed ledger technology to enhance transparency within their supply chains. It will be carried out at FoodLogiQ Labs, the tech company’s innovation arm.
FoodLogiQ CEO Dean Wiltse commented:
“Over the years, input from our customers and partners has been invaluable in helping us make critical improvements to the features and functionality of FoodLogiQ’s products, and the same will be true with our blockchain pilot”.
The launch of this pilot program comes on the heels of the company’s $19.5 million financing in March 2018 to intensify FoodLogiQ’s efforts in expanding food traceability across the food industry.
As a pioneer of food traceability, FoodLogiQ is uniquely positioned to spearhead this blockchain pilot. The company is known for developing cutting-edge products and solutions for the food industry. Several months ago, the company launched FoodLogiQ Connect, a cloud-based supplier transparency and traceability solution that employs the SaaS model to unlock enormous value in the food supply chain. FoodLogiQ has since captured and tracked more than 10 million food traceability events with its innovative technology.
While FoodLogiQ blockchain project may be at the forefront of the food supply chain revolution, it is not the only blockchain-based project targeting this market. IBM’s Food Trust, Ripe.io, and Intelex are also developing similar solutions.