Alibaba wants customers to be able to access the journey of each edible product from the moment it grows on a farm to the moment it reaches the customer’s hands. Their goal is to be more transparent with the entire supply chain procedure.
Their “Food Trust Framework”, which is now being worked on dairy companies and delivery services in Australia and New Zealand, will provide better product information to its Tmall customers.
Blockchain technology has a valuable feature: to log data on an online ledger that cannot be altered or destroyed, making transactions clear and secure. This technology has been well received by tech companies who have created things such as “blockchain bicycle” and “blockchain smartphone”.
Experts support blockchain to manage product supplies because it will improve public trust and it will help eliminate counterfeit products. Other giants such as JD, IBM and Walmart have joined in tracing food supplies from farms to stores using blockchain. Walmart says the time it takes to track a package has been reduced from days to just seconds.
Source: Abacus News