Smithfield Foods Joins FoodLogiQ’s Food Industry Blockchain Consortium

Blockchain, Group, News | November 15, 2018 By:

Global food company Smithfield Foods has joined FoodLogiQ‘s Food Industry Blockchain Consortium to explore blockchain technology and how it can be beneficial to its business.

Smithfield Foods, wholly owned subsidiary of China-based WH Group, is the largest pig and pork producer in the world. In addition to owning over 500 farms in the United States, Smithfield contracts with another 2,000 independent farms around the country to grow Smithfield’s pigs. It also has facilities in Mexico, Poland, Romania, Germany and the UK. In 2016, the company employed 50,200 and reported an annual revenue of $14 billion.

The Food Industry Blockchain Consortium was established in June of this year by FoodLogiQ, a provider of traceability, food safety and supply chain transparency solutions, in collaboration with a number of food industry leaders, including Tyson Foods, AgBiome Innovations, Subway/Independent Purchasing Cooperative, Testo, and others. The consortium was formed to research the opportunities and challenges of blockchain technology within the food industry.

Smithfield Foods will be joining other consortium members to test the application of blockchain to raise transparency within their supply chains. Julia Anderson, global chief information officer for Smithfield Foods, said that their partnership with the FoodLogiQ consortium will allow them to be part of an ecosystem driving the deployment of blockchain within the food industry, further underscoring their commitment to producing good food the right way.

“I’m very pleased that Smithfield has chosen to partner with us on this exciting blockchain initiative,” said 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.”

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.

“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,” Duke said. “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.”

Last month, tech giant IBM commercially launched its blockchain food supply chain network – IBM Food Trust – to enable organizations in the food industry to run their businesses more effectively and provide safer food at lower costs. The network includes global retailer Carrefour, Topco Associates, a co-op that represents 49 members, and Wakefern, a retailer-owned cooperative representing 50 member companies and 349 stores.