Auchan
Image credit: source

Auchan, a global retail giant, is set to take its new blockchain solution, TE-FOOD, which can be used to track food around its supply chain, to five new countries. The initiative is an effort to make the transparency of the products sold by the company higher.

The company, which is based in France, currently has the 13th largest food retail operation in the world and it works within 17 countries. Right now, the countries that will receive this new solution are Portugal, France, Italy, Spain and Senegal.

The FoodChain Technology

The solution created by Auchan is called TE-FOOD and it is based in the FoodChain technology, an international traceability ledger. The first country in which the technology was experiment was Vietnam, an important market for FoodChain. The solution was deemed appropriate and now the other five countries will do it.

One of the main advantages of using a system like this one is that it uses the immutable ledger of the blockchain technology to tell the whole story of a product which can be read by anyone with the app and a smartphone.

The users will be able to scan the QR code of the products and they will check all the history of the product from its cultivation from its transport until it ends up in the supermarket. The data, as it is stored in the blockchain, can be considered authentic as it has to be set at specific parts of the process and cannot be altered.

At the moment, TE-FOOD is the largest farm to table food tracking solution ever implemented in Vietnam, which transformed the pilot test of the product in a huge success with the number of over 6,000 clients. Global food giants like AEON, Lotte Mart, CP Group and others are clients of the company in the country and use its technology on their products.

Companies Make Similar Move

Several companies around the world are following the trend of tracking the food. Another French company, this one even more famous, Carrefour, has revealed that it was using the Hyperledger Fabric blockchain to implement food tracking. The focus would be on tracing poultry products in Spain first but the company was already thinking about other markets.

In the United States, it was the retail giant Walmart that announced that it would start tracking leafy greens along their way to the tables of their clients. The initiative is also just starting, but it has the potential to become one of the largest ones in the world.

Experts believe that the chances that the retail industry will be helped by the blockchain in the next years are very high and that this technology will greatly help it to overcome many challenges.

(Excerpt) Read more Here | 2018-12-05 06:29:00

LEAVE A REPLY

Please enter your comment!
Please enter your name here