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.
Low unemployment + 350 thousand new jobs in January = ...more layoffs? A bunch of tech and retail companies have laid and are laying off employees after a nationwide hiring surge during the pandemic.
The most magical place on Earth wants a protective order to keep Gov. Ron DeSantis' appointees from knowing how the magic happens. A federal judge dismissed a separate Disney lawsuit last week.
Just days before the 49ers and Chiefs play in Las Vegas, Joe Pompliano, Investor at Pomp Investments and author of the Huddle Up Newsletter, discusses why he thinks this could be the most-watched Super Bowl in history.
Chris Versace of Tematica Research LLC shares his thoughts on Jerome Powell's latest comments, the timing of those crucial rate cuts, and what semiconductor stocks he's watching closely.
We battle an onslaught of advertising every time we scroll through social media. Deinfluencers propose a less pricey, more honest approach to how we shop online. Could they convince us to spend less?
Scott Gutz, CEO of Monster.com breaks down the company’s Work Watch Report for 2024, including what’s motivating workers to look for new positions and why they should see A.I. as an opportunity.
Tom Graff, Chief Investment Officer, Facet, discusses what the latest jobs report says about this ‘pretty good’ labor market and why the market should worry less about the Fed’s next decision.
