How IBM is Using Blockchain Technology to Improve Food Safety
*By Conor White*
Blockchain isn't just for cryptocurrency.
Computing behemoth IBM ($IBM) is using the technology to ensure the food we eat is safe and properly sourced.
"We're basically leveraging the blockchain technology to track each item of food as it travels through its trajectory and its transportation from the field all the way to the retailer," Bridget Karlin, chief technology officer for IBM Global Technology Services, told Cheddar's Hope King at the Consumer Electronics Show in Las Vegas, Nev.
According to Karlin, blockchain is revolutionizing the way big-box retailers like Walmart ($WMT) do business.
"It used to take \[Walmart\] seven days to track an item from its origin all the way through to their shelves," Karlin said. "With blockchain, now it takes 2.2 seconds."
Walmart is working with IBM to implement blockchain as part of new food safety requirements for its suppliers. The two companies have been collaborating since 2016 to apply new levels of traceability across the food supply chain.
The partnership is part of The Food Trust blockchain, which includes other major forces like Nestlé (NSRGY), Dole ($DOLE), Kroger ($KR), and Tyson Foods (TSN).
In the future, a public health incident like the recent E.coli outbreak linked to contaminated romaine lettuce could be detected much more quickly and accurately.
"Now it's a matter of scaling that out more broadly to more participants," Karlin said.
Disney and Fortnite-maker Epic Games will collab on making new video games with Disney characters. Hopefully it will be more than Mickey Mouse hitting the Griddy.
Hershey is cautioning on its 2024 profit growth as the company contends with rising cocoa costs, leading to increased prices for chocolate. The company anticipates its full-year earnings per share being relatively flat, partly due to higher cocoa and sugar costs.
Prince Harry has reached an out-of-court settlement with a tabloid newspaper publisher that invaded his privacy with phone hacking and other illegal snooping. Attorney David Sherborne said that Mirror Group Newspapers had agreed to pay Harry’ “substantial” costs and damages.
An attorney representing passengers of an Alaska Airlines flight that lost a door plug in midair says a “whistling sound” was heard on a previous flight of the same Boeing 737 Max 9.
What do Arnold Schwarzenegger, Aubrey Plaza, and Tom Brady all have in common? You'll see them on Super Bowl Sunday, but not on the field. If you only watch the Super Bowl for the ads, here's a sneak peek.
The Federal Communications Commission knows (to loosely quote Drake) "when that [AI robocall] hotline bling, that can only mean one thing" — deception. The agency says bad actors have been using these voices to misinform voters.
David Stryzewski, CEO of Sound Planning Group, breaks down Disney’s latest results, from adding Taylor Swift to building out ESPN, and why Bob Iger’s leadership is crucial.
