Last year, Walmart and IBM invigorated the food industry by their partnership to improve supply chain traceability and transparency. The idea was to marry the standards of GS1 with the traceability and transparency that blockchain offers. Now FoodLogiQ is joining the fray with their own offering.
FoodLogiQ, the SaaS (Software-as-a-Service) provider of food supply chain traceability solutions, announced a blockchain pilot programme at the GS1 Connect conference. Several firms have agreed to test the application, including AgBiome Innovations, Subway®/Independent Purchasing Cooperative, Testo and Tyson Foods.
FoodLogiQ Labs, the company’s innovation arm, will spearhead the pilot, which is set to get underway in Q3 2018. The aim is to study the opportunities and challenges of blockchain in food traceability.
Need for transparency
The FoodLogiQ team believes that customer demand for transparency has helped the growth of food traceability initiatives. In fact, customers tend to gravitate towards firms that employ transparency as a business strategy and inform them about their practices. Such as whether the firm uses organic produce, has dropped GMOs, or avoids chemicals.
And with previous health scandals in the food industry who could blame them?
Therefore, FoodLogiQ aims to take the lead on blockchain exploration within the food space.
Business case
Despite the fervor over blockchain, FoodLogiQ plans to stay firmly rooted in reality: “We are finding that companies are jumping into blockchain pilots without first understanding their business problems. We look forward to working with current and future blockchain pilot partners to help them navigate this complex landscape and collaborate on how blockchain can support their unique business,” said Charles Irizarry, FoodLogiQ Chief Technology Officer.
FoodLogiQ already announced an API platform last year that aims to improve the connectivity between advanced technologies in the food industry. Priorities for the API include IoT integration, blockchain, data pools, business intelligence and, food quality and auditing technology.
FoodLogiQ believes it is uniquely positioned to lead a blockchain pilot for good reason. The company helped shape policy at the national level by defining the Produce Traceability Initiative (PTI) standards. Additionally, it’s an active technology participant in the FDA’s Pilot Projects for Improving Product Tracing along theFood Supply System.
The announcement comes on the back of funding for FoodLogiQ Labs to the tune of $19.5 million.
