Mastercard partners on blockchain-based food supply chain
Mastercard is partnering with food track-and-trace software provider Envisible to create a blockchain-based supply chain platform to help supermarkets trace the origin of seafood.
Envisible’s new Wholechain traceability system will be powered by Mastercard’s blockchain-based Provenance service; it’s designed to give grocery partners more insight into the ethical sourcing and environmental compliance of the seafood sold at their stores.
Topco‘s member grocery chains, starting with Food City, will be the first to use the supply chain ledger. The first of several species to be tracked will be salmon, cod and shrimp.
“Companies in fragmented supply chains make it harder to see end-to-end traceability,” said Deborah Barta, senior vice president, Innovation and Startup Engagement, at Mastercard. “We thought, what if we brought blockchain in to track from the origin of goods to consumer’s hands and give the ability to see ethical sourcing, compliance and enable consumers to discover the journey of the products they’re buying.”
Wholechain is a “production-grade system” – not a proof of concept or pilot, Barta said.
Customers at Topco’s stores will begin seeing QR codes on seafood and by scanning the codes with their smartphone’s camera, they can access background information about where the fish were caught and the journey to the store.
Mastercard has plans to extend its provenance solution to designer wear, luxury goods and more, the company said. When the company launched its Provenance blockchain service in April, it was initially aimed at tracking and monitoring the production chain for some in the fashion industry.
“Mastercard is trying to be in the middle of the lucrative $125 trillion business-to-business payment market by establishing a foothold in one of the most successful and promising use cases for blockchain, i.e. provenance – and in this case provenance for seafood that is prone to spoilage and must be handled super carefully in transit,” said Avivah Litan, a Gartner vice president of research.
A 2019 Gartner survey of around 850…