Major grocers continue to "harvest" blockchains for their transparency by participating in networks designed to increase visibility across food supply chains. This week, the U.S.'s second-largest grocer joined a large Food Trust network, which the Blockchain Monitor first covered last summer. According to reports, the grocer will pilot a romaine lettuce track-and-trace use case in order to improve food quality and recalls. Other members of the Food Trust also made headlines this week: A prominent French multinational supermarket and the world's largest food and beverage company announced they will allow consumers to view information recorded on a blockchain by simply scanning a QR code. Consumers of instant mashed potatoes will be able to see what kinds of potatoes were used, when and where they were stored, and more.
In other supply chain news, researchers at Portland State University reportedly have published a blockchain protocol specifically designed to combat counterfeiting in pharmaceutical supply chains. Another announcement this week described the debut of a blockchain solution for the employee benefits industry, developed by a major global consulting firm and a multinational employee benefits firm, that seeks to streamline the operating model for employee benefits such as life, short- and long-term disability, accident, and healthcare insurance. According to a report released this week by a large market intelligence firm, over the next four years blockchain spending by the U.S. government is expected to grow from $4.4 million in 2017 to $48.2 million in 2022, with early spending focused on "supply chain and asset management solutions" and later spending expanding to include "identity management and complex financial transactions."
Established technology and consulting firms appear to be preparing for blockchain market growth. This week, a Big Four accounting and consulting firm announced plans to release a free public blockchain protocol that operates on Ethereum and that has been developed specifically for enterprise-grade use cases such as supply chain management, intracompany transactions and public finance. The protocol leverages zero-knowledge proofs to enable private transactions to take place on the public Ethereum blockchain. The same "Big Four" firm recently launched a blockchain analytics tool designed to improve blockchain-based "financial reporting, forensic investigations, transaction monitoring and tax calculations."
For more information, please check out the following links:
- Albertsons Companies partners with IBM Food Trust network to use blockchain for food supply chain traceability
- Carrefour – Nestlé Blockchain: Technology for food transparency with Mousline!
- Nestlé and Carrefour give consumers access to blockchain platform for Mousline purée
- PSU researchers develop blockchain protocol to prevent counterfeit pharmaceutical sales
- Accenture and Generali Employee Benefits Apply Blockchain Technology, Aiming to Transform the Reinsurance Process for Captive Services
- S. Government Blockchain Spending Forecast, 2019–2022: Healthy Four-Year Growth Predicted for Government Blockchain Spending
- Auditor EY Unveils Nightfall, An Ambitious Bid to Bring Business to Ethereum
- Multimillion-dollar investment in EY Blockchain Analyzer delivers new upgrades for blockchain and cryptocurrency audit and tax services
- Microsoft, Ethereum Group Launch Token-Building Kit for Enterprises
- US Gov't Blockchain Spending Expected to Increase 1,000% Between 2017-2022: Study
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.