- One of the biggest olive oil producers in the world is using blockchain technology to trace its food supply chain
CHO, which is one of the biggest olive oil producers in the southern Mediterranean, is using blockchain technology to ensure the traceability and authenticity of its Terra Delyssa extra virgin range.
Specifically, CHO is using the IBM Food Trust Network blockchain, and it tracks the product across eight quality assurance checkpoints including the farm, the mill that crushes the fruit, and the factories where the oil was filtered, bottled, and distributed.
The advantage of blockchain technology is that it is immutable and secure, so information stored regarding the supply chain of the food product cannot be tampered with. Ultimately, this leads to transparency and assures end users that the olive oil is authentic, which is a big deal in the industry since apparently a large fraction of the product sold in stores is substandard.
Further, CHO can identify inefficiencies in their supply chain with blockchain technology, allowing them to make a shorter and stronger supply chain, leading to higher quality olive oil at lower prices long term.
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