In an attempt to allow consumers of seafood products to know the full origin of the food they eat, Mastercard, a leading global payment processor, is collaborating with Topco Associates, a major US-based food cooperative. UU. And Envisible, to launch a distributed accounting technology (DLT) based on the food traceability program.
Seafood in the Blockchain
Mastercard, the main payment processor, is taking its blockchain technology a step further. This time, the 53-year global payment giant will promote transparency in the food supply chain management system with DLT.
Envisible, a platform that aims to be dedicated to promoting visibility in supply chains, is the integration of the Mastercard blockchain Provenance propulsion system into its Wholechain traceability system, to give users a more robust platform for tracking foods.
Specifically, the team has made it clear that the solution will be adopted by Topco Associates LLC, the largest food retail cooperative in the United States and the third largest private company in Illinois, to allow supermarkets of its member owners to easily track the Seafood life cycle in the supply chain.
Promotion of ethical sourcing
Reportedly, the blockchain-based seafood tracking solution will be tested by Topco member supermarket and supermarket chains, starting with Food City.
The team says that Food City will take advantage of blockchain technology to promote ethical sourcing and environmental compliance for the wide variety of seafood products sold in its stores.
Commenting on the initiative, Deborah Barta, senior vice president of Innovation and Commitment for Startups at Mastercard, reiterated that people are increasingly interested in knowing the exact identity of things and where they come from what they eat. As such, Mastercard is making that dream come true through its blockchain technology solution.
In his words
“ THE IDENTITY OF THINGS IS INCREASINGLY IMPORTANT AS CONSUMERS RAISE DEMANDS FOR TRANSPARENCY. OUR SOURCE SOLUTION TAKES ADVANTAGE OF MASTERCARD’S ESTABLISHED NETWORK CAPABILITIES, GLOBAL TECHNOLOGY AND SERVICES, SUCH AS COUNTERFEIT PAYMENTS AND PROGRAMS. THIS ALLOWS US TO PROVIDE TRUST, FINANCIAL INCLUSION AND ADMINISTRATIVE EFFICIENCIES TO THE MARKET. «
With numerous blockchain patents to its credit, Mastercard remains one of the established companies that explores the potential of DLT.