According to recently published reports, Producers Market has announced their plans to join the IBM Food Trust. The trust is a blockchain-based food traceability solution whose main aim is to assist in the improvement of global food safety, traceability and transparency for Producers Market members.
Producers Market is a global organization which has the goal of helping agricultural producers to increase and retain their product via their digital marketplace application. The platform reportedly is using an application which will help its members improve traceability and transparent food transactions. The organization has plans to join the IBM Food Trust has been met with great feedbacks.
Co-Founder and CEO of Producers Market, Keith Agoada, confirmed this news in a statement which reads:
“Producers Market core values centre around the transparency and traceability of the agriculture value chain from producer to wholesale buyer to end consumer. We are enthusiastic to innovate with IBM Food Trust and to potentially offer this technology for our members,”
The blockchain-based IBM Food Trust solution has an ecosystem with members from across the entire food supply chain and around the world. It provides members with a platform spanning across the food ecosystem to share data based on blockchain technology in a transparent fashion. Already, more than five million transactions have been recorded on the solution.
Collaboration between the blockchain-based IBM Food Trust solution with Producers Market marketplace application will enable its members with a new level of traceability to open up direct markets globally.
Dermot Doherty, Producers Market’s Chief Technology Officer further explained this in a statement. He said:
“The IBM Food Trust solution can trace the origin of food products back to source rapidly. Our tech team has been tasked to study the intricacies of IBM Food Trust and innovate with both our digital storytelling functionality and buy/sell innovations to offer a superior experience to our members. We are elated to begin working with IBM Food Trust, and we believe this will open new global sales opportunities and save Producers Market members time, money, and reduce waste.”