“I’m very pleased that Smithfield has chosen to partner with us on this exciting blockchain initiative,” says Jamie Duke, FoodLogiQ CEO. “The perspective they bring to the table is invaluable, and as we continue moving forward with this pilot, we’ll draw on Smithfield’s production knowledge and their supply chain expertise to help guide our collective blockchain efforts. We have the privilege of working with some amazing individuals in this Consortium - visionary leaders who will contribute their time, their talents, and their experiences, as well as the support of the well-known brands they represent.”
Blockchain is an emerging technology offering a way for companies to transact with each other and move assets around the world in a secure manner. What makes blockchain unique is that it is a shared, permanent ledger that records all the transactions in chronological order that cannot be altered or deleted, enabling companies to tell the granular story of a product’s journey with a high degree of certainty and validity. Blockchain has also made clear the need for companies to automate their recordkeeping and traceability systems and eliminate the manual, paper-based processes that often slow down the resolution of a food safety outbreak or issue.
While blockchain holds promise on raising transparency within the food industry, there is much yet to be tested and validated on its real-world application. That work will begin with the inaugural meeting of FoodLogiQ’s Food Industry Blockchain Consortium, which will take place on December 13 - 14 in Durham, North Carolina.
“Blockchain R&D is at an all-time high, and we're proud to be a food industry forerunner in this technology,” Duke explains. “This first-time gathering of our blockchain participants will bring together some of the biggest names in the food space for an in-depth evaluation of the current state of blockchain - both the opportunities and the challenges - as well as the effects the technology is having on our industry as a whole. We’ll also discuss our overall Consortium strategy, develop our roadmap of short- and long-term goals, and determine how we will use the data we collect during our R&D process to help ensure success for the group as a whole.”
“As a vertically-integrated company with an industry-leading sustainability program, Smithfield upholds an exceptional reputation for traceability and transparency,” said Julia Anderson, global chief information officer for Smithfield Foods. “Our partnership with the FoodLogiQ consortium allows us to be part of an ecosystem driving the deployment of blockchain within the food industry, further underscoring our commitment to producing good food the right way.”
“We are thrilled to see such worldwide interest in blockchain, but in actuality, FoodLogiQ has been doing this kind of traceability for years,” Duke says. “Now we get to see how this transformative technology has the potential to change the way the food industry does business.”