*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.

Share:
More In Business
Walmart warns “higher prices are inevitable”
Walmart, which became the nation’s largest retailer by making low prices a priority, has found itself in a place it’s rarely been: Warning customers that prices will rise for goods ranging from bananas to car seats.
US businesses that rely on Chinese imports express relief and anxiety
American businesses that rely on Chinese goods are reacting with muted relief after the U.S. and China agreed to pause their exorbitant tariffs on each other’s products for 90 days. Many companies delayed or canceled orders after President Donald Trump last month put a 145% tariff on items made in China. Importers still face relatively high tariffs, however, as well as uncertainty over what will happen in the coming weeks and months. The temporary truce was announced as retailers and their suppliers are looking to finalize their plans and orders for the holiday shopping season. They’re concerned a mad scramble to get goods onto ships will lead to bottlenecks and increased shipping costs.
Load More