There is an old argument about whether or not blockchains can be useful beyond financial applications.
IBM Food Trust
While there have been plenty of use cases thought up, perhaps the most impressive have been the supply chain blockchain applications. A supply chain is well suited to blockchain because it can enable more transparency and efficiency in operations.
The blockchain is great at counting things, many people contend, but it can do so much more. The dApps built on the Tron blockchain, as well as the EOS blockchain, are a good example of the kinds of things that can be done at the base level of blockchain development: gambling.
However, much more can be done with blockchain decentralized applications.
IBM demonstrated how useful the blockchain can be at CES this week, showing how its technology stack can actually identify products.
Chef Aaron Sanchez, known as a master of tacos, was able to cook with ingredients he could easily look up information about. Here’s him in action at another time:
The Food Trust product enables farmers to easily track their products, and then when they get further down the food supply chain, they can be easily attributed to their originating farm.
IBM Leads Field In Blockchain
IBM has deployed blockchain technology in a number of fields, with food and supply chains being of particular interest.
A quick review of the company’s website shows that it’s in food, supply chain, and finance. They have also reportedly launched a blockchain-based ID program for Canadian banks.
That’s the way things work with major corporations. Developments happen all over the place, and it’s hard to track them all at once. IBM is certainly ahead of other companies, such as Apple and Google, in the blockchain race. There’s no telling what would happen if companies like Apple, Google, and Amazon aggressively entered the blockchain space.
However, IBM is also looking into financial applications of blockchain, with its Stellar integration and attempts at building an international remittances service.
IBM isn’t the only player in the food traceability industry, as we previously reported. Mastercard entered into a partnership with another firm in the field called Envisible.
IBM’s Food Trust blockchain project was originally designed for large corporations, and has support from the likes of Walmart, Nestle, and other major corporations. Even the FDA has taken part in the company’s blockchain intiatives.