Topco Associates to Trial Mastercard’s Blockchain Tech
The Provenance Solution of Mastercard is planned to be utilized by Topco Associates, the largest US based retail food group purchasing company, for tracking its food supply chain. By doing so, Topco Associates will conduct trial of Mastercard’s blockchain technology in its operations.
Specifically, Topco will trial a traceability platform built by Envisible, a logistics firm. The Wholechain platform is based on Provenance Solution developed by Mastercard using blockchain technology.
Topco will utilize the platform to track the provenance of meat, seafood and other produce. Several high profile enterprises operating in food sector have started using blockchain technology.
Earlier in October, US retailer Walmart deployed blockchain technology to monitor Indian shrimp supply chains. It is the first time the technology has been utilized to trace shrimp.
Similarly, in June, Walmart China began tracing food supply chain using VeChain’s Thor blockchain. The retailer had earlier stated that blockchain technology enables firms to act without delay and recall goods in case of any health related problems.
In August, Migros, largest supermarket chain and retailer headquartered in Switzerland, has stated that it would utilitze TE-Food’s blockchain powered food traceability mechanism for its products.
Of late, Alex Manders, lead of blockchain solutions at Information Services Group (ISG), has suggested the Food and Drug Administration (FDA) to provide doubtless instruction about blockchain apps to enhance food safety.
Manders in a FDA public meeting on the topic “A New Era of Smarter Food Safety,” stated that the regulatory organization should draw clear rules on how to utilize blockchain in a secure way in food supply chains.
ISG states that the key puzzles staring blockchain deployment in food supply chains are not related to technicalities but total lack of familiarity about prevailing blockchain framework including various platforms and corresponding providers.