Blockchain

Mastercard’s Blockchain Tech to be Leveraged by America’s Biggest Food Group

The blockchain technology is growing by leaps and bounds as renowned names across different industries turn to it for the myriad of benefits it has to offer. Joining those names is Topco Associates, the largest American retail food group purchasing organization, which will be piloting Mastercard’s blockchain technology according to a press release.

Based in Illinois, the company provides aggregation, innovation and knowledge management solutions for its food industry members, including grocery retailers, wholesaler’s foodservice and pharmacy companies. As per reports on October 27th, the American food coop will be leveraging the blockchain tech of the financial services company in its operations.

Customers today aren’t passive and so they increasingly want to know the story behind the food that they are consuming and paying for, which is where blockchain comes in, offering transparency and traceability. That is exactly what Topco intends on using the distributed ledger technology to trace perishable produce such as meat and seafood from their source to the table.

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The reports reveal that Topco will be testing a traceability platform for this endeavor, developed by the logistics firm Envisible, which allows for supply-chain visibility in food systems, ultimately bringing about more visibility to the food that people consume every day.

The company’s wholesale traceability system will be powered by Mastercard’s blockchain-based Provenance Solution and used by Topco. The Mastercard Provenance Solution is built on the propriety blockchain tech and is industry-agnostic, it helps brands in providing visibility when it comes to a product’s journey.

Topco, moreover, is working with its member grocery chains in order to pilot the use of technology for providing a better line of sight into ethical sourcing and environmental compliance of the seafood selection sold at their stores. It is starting with Food City and the first of the many species to be tracked, as per the report, will be salmon, cod and shrimp. Scott Caro, senior vice president of Fresh City expressed his eagerness for the upcoming project as he shared:

Given consumers’ expectations for reliable information about the food that they eat, we’re excited to partner with Food City and Envisible on this trace and provenance solution pilot, and the promise of Envisible’s Wholechain solution.

Dan Glei, executive vice president, Merchandising and Marketing, Food City, also shared that with the help of the Mastercard-powered Envisible Wholechain, the grocers will be able to stock their shelves with confidence and they’d also be able to pinpoint any issues in the food chain during any unfortunate events such as recalls.

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Abeer Anwaar

Abeer holds a Bachelors degree in Media studies and covers blockchain startups for BlockPublisher. An optimist, excels in the art of the written word and swears by the joy of all things sweet. Contact the editor at editor.startups@blockpublisher.com

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