IBM’s food-tracking blockchain technology will be used by the Carrefour (PA:CARR) multinational retail firm to track food supply lines from the farm to the store. An agreement between Majid Al Futtaim — the firm that operates Carrefour in the Middle East — and IBM (NYSE:IBM) will see the retail giant use the IBM Food Trust initially to track two food categories: chicken and microgreens.
The IBM Food Trust is a blockchain-specific platform designed for the food industry, hosted on the IBM Cloud. Carrefour, which recorded $97 billion in revenue in 2019, will enable customers to scan QR codes on the products in question, and receive extensive information about their entire production process, according to a report by Gulf Business.