This step makes Carrefour the first retailer in the region to offer new levels of insight and transparency to its customers
Carrefour taps blockchain technology to boost food traceability. Source: flickr.com
Majid Al Futtaim, owner of the Carrefour franchise in the Middle East, Africa and Asia, has joined IBM Food Trust, a blockchain-enabled global ecosystem for the food industry run on IBM Cloud.
According to IBM Institute for Business Value, 73% of customers said traceability of products is important to them. Of those who said it was very important, 71% of respondents indicated they are willing to pay a premium for brands that provide it.
IBM Food Trust uses decentralized ledgers to record transactions in a verifiable way. Through a collaborative blockchain network, critical information such as product origin, transportation, and ingredients, can be logged and accessed quickly by permissioned participants across the value chain and ultimately customers.
The initiative will start with 2 initial product categories: Carrefour’s own fresh chicken brand and microgreens harvested from select in-store hydroponic farms, before expanding into more product lines.
According to information, the digitization of transactions and data provides a more efficient way of working across the supply chain for growers, processors, shippers, retailers, regulators, and consumers.
By simply using their smartphone to scan a QR code on participating products, customers will be able to get immediate access to actionable food supply chain data.
The history of the product, including production process, halal and hygiene certifications, date of birth, nutrition information, and temperature data, will be available once uploaded onto the blockchain.
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