Nestlé has just put out an announcement regarding a collaboration with blockchain-based food-tracing firm OpenSC. The firm is expected to build a project with OpenSC that would allow the firm to track its food products using blockchain data building.
OpenSC is a respected name in the food tracking sector, owned in part by WWF-Australia. The corporation uses blockchain technology to create a channel of tracking for food products.
Benjamin Ware, an executive in Nestle that oversees the ‘responsible sourcing’ division, believes that the collaboration marks a crucial step in the transition towards stronger and more transparent food supply chains. He also underscores the partnership as a potential chance to embellish global standards for food production and supply route transparency.
“This open blockchain technology will allow anyone, anywhere in the world to assess our responsible sourcing facts and figures,” Ware commented.
The project will be implementing a tracing channel for farm house products developed in New Zealand, meant to be shipped to the Middle East.
Following the success of this phase, Nestle will then apply the same technology on a new product – palm oil organically produced in South America.
These test initiatives will help Nestle derive a stronger understanding of Blockchain technology that could aid the firm’s tracing activities in the future.
Magdi Batato, a leading executive in Nestle, envisions a scenario where the corporation’s millions of customers can make a more insightful decision when choosing their products, based on the products’ supply routes and sourcing information.
He believes that blockchain technology would facilitate the sharing and dispensing of vital information that would raise the standards for food quality across the globe.