US-based food digitization start-up, Ripe Technology, declared its partnership with leading blockchain technology firm, R3, to bring about traceability in the food supply chain. Corda Enterprises, the latest blockchain platform introduced by R3, will be used for commodity tracking on Microsoft Azure.
Globalizations calls for greater transparency
Ripe technology, together with Microsoft and R3, will employ Microsoft’s next-gen AI platform that is specifically designed to streamline food and commodity trading. Bringing traceability in the food supply chain is of paramount importance in a world where consumers have become increasingly conscious of the food they put in mouth. The technology will offer complete transparency in the supply chain, right from where the food was sourced, grown, developed, stored and sold. With globalization in commodity trading, this degree of consumer empowerment will prove to be visionary.
An association that benefits all
Ripe technology’s CEO, Raja Ramachandran, eagerly remarked that for the company to be associated with the likes of R3 and Microsoft, who relentlessly work towards expanding blockchain’s horizons, is a big milestone for Ripe Technology. He strongly believes that together, they can empower their consumers to make smart food choices.
Meanwhile, David Rutter, Founder CEO of R3 is excited about the fact that it is the first time that Corda Enterprises’ platform will be utilized in the food and beverage industry and confident of its capability in digitizing every activity on its supply chain. Azure’s Principal PM Manager, Craig Hajduk, also wholeheartedly extended his support for this revolutionary project.
Traceability, in supply chain traceability, is the ability to identify, track and trace elements of a product or substance as it moves along the supply chain from raw goods to finished products. This concept is very crucial for quality control as it enables tracing the application, location, and/or history of an activity or item by means of recorded data.
Traceability becomes crucial during events such as recalls, so stakeholders have the means to locate the source of the problem. In turn, this enables a company to either distance itself from a problem — for example, to say its food or product was not affected — or to take corrective action.
Kudos to Ripe Technology for this very innovative move!
