Brandmark adopts blockchain to track food products from farm to stores

Brandmark adopts blockchain to track food products from farm to stores

Brandmark, an Israeli-Japanese startup, has reportedly deployed blockchain technology to help the food manufacturers showcase the source of their products, offering transparency to customers by informing them about the ingredients, where they are from, and the process undergone.

Notably, Brandmark is a joint venture between Israel-based Blackbird Ventures and Japanese blockchain technology giant EMURGO Ltd. The company has used the novel technology to secure its customer base- providing adequate product information to them through the simple scanning of a barcode, overtly informing them about the journey thr products have made from manufacturers to the stores.

According to Mr. Michael Bar- Zeev, VP of business development, Brandmark, this novel platform will help convey customers not only about how the product was made but also provide them “factual proof”, regarding how the product reached the endpoint of sale. All these details could be procured from the barcode on the product, which can then be scanned using a smartphone, he further added.

With supply chains becoming global over the years, the ability to trace the history, production process, and the location of the products and services has become extremely important. Not only does it help gain customer trust but also helps companies achieve a competitive edge.

In addition to the above, environmental and social concerns are stressing the need to provide information regarding how a given product is made, the level of carbon emitted during the manufacturing process, and the possible use of child labor. Products can win consumer confidence by showcasing ingredient sourcing, quality-check procedures, and certification labeling data.

Few of the notable clients of Brandmark include Israeli cosmetics company- Ahava, Indonesia-based coffee manufacturers, olive oil producers, as well as, fast-food giant- McDonald’s, which uses the technology to trace vegetables used in its stores.

Apparently, the startup is also in talks with big names such as Burger King, Nestlé S.A., Cannabis Hydro shop, and Angel Bakeries.

As per a statement by the company, cannabis producers, drugs and cosmetics companies are all the potential targets for Brandmark’s latest offering. In the coming times, carmakers, tobacco growers, and textile manufacturers could be added to the company’s customer list.

Source Credit: https://www.timesofisrael.com/startup-uses-blockchain-tech-to-track-food-products-journey-from-farm-to-store/