20 percent of the world’s top grocery retailers will use blockchain by 2025, according to research from Gartner Inc released on April 30. Blockchain provides the highest degree of transparency that is its key advantage for grocers.
According to the research, blockchain “appears as an ideal technology to foster transparency and visibility along the food supply chain.”
Gartner’s Senior Director Analyst Joanne Joliet posits that grocers will “lead the way with the development of blockchain,” as grocery sales are increasing globally, and consumers want to know more about a food’s source and freshness.
“Grocery retailers who provide visibility and can certify their products according to certain standards will win the trust and loyalty of consumers,” he explained.
A lots of companies are already experimenting with blockchain to ensure the quality of their food products. For instance, the IBM Food Trust uses the IBM Blockchain Platform to connect companies through a permanent, and shared record of food origin details, processing data, shipping, and other details.