Producers Market, a project aiming to unite producers on a smart value chain, today announced their plans to join the blockchain-based food traceability solution IBM Food Trust to help improve global food safety, traceability and transparency for Producers Market members.
“Producers Market core values center around the transparency and traceability of the agriculture value chain from producer to wholesale buyer to end consumer. We are enthusiastic to innovate with IBM Food Trust and to potentially offer this technology for our members,” said Keith Agoada, Producers Market, Co-Founder, and CEO.
The blockchain-based IBM Food Trust solution comprises ecosystem members from across the entire food supply chain and around the world. It enables members across the food ecosystem to transparently share data based on blockchain technology. Already, more than five million transactions have been recorded on the solution.
The work will aim to leverage the Producers Market marketplace application in collaboration with IBM Food Trust to offer its members a new level of traceability to open up direct markets globally.
[perfectpullquote align=”full” bordertop=”false” cite=”Producers Market’s Chief Technology Officer Dermot Doherty ” link=”” color=”” class=”” size=””]”The IBM Food Trust solution can trace the origin of food products back to source rapidly. Our tech team has been tasked to study the intricacies of IBM Food Trust and innovate with both our digital storytelling functionality and buy/sell innovations to offer a superior experience to our members. We are elated to begin working with IBM Food Trust, and we believe this will open new global sales opportunities and save Producers Market members time, money, and reduce waste.”[/perfectpullquote]
Producers Token is building a platform for the tokenization and exchange of agricultural and natural resource assets. Producers Token works with its Producers Market members to solicit and vet tokenization opportunities.
FarmToken currently is focused on three categories of tokenized assets:
- Tokenization of a farm and/or facility asset that is already in operation.
- Tokenization of a new or expanding farm and/or facility development not currently in operation.
- Tokenization of a natural resource asset for regeneration and/or conservation.