Walmart has been working with IBM on a food safety blockchain solution and today it announced it’s requiring that all suppliers of leafy green vegetable for Sam’s and Walmart upload their data to the blockchain by September 2019 .Most supply chains are bogged down in manual processes.This makes it difficult and time consuming to track down an issue should one like the E. coli romaine lettuce problem from last spring rear its head.Each node on the blockchain could represent an entity that has handled the food on the way to the store, making it much easier and faster to see if one of the affected farms sold infected supply to a particular location with much greater precision.Walmart has been working with IBM for over a year on using the blockchain to digitize the food supply chain process.Walmart is using the IBM Food Trust Solution, specifically developed for this use case.
Blockchain is increasingly being explored by enterprise for efficient solutionsDanish based Moller-Maersk the world’s largest container shipping company is collaborating with IBM to integrate blockchain technology into the global supply chain.Together they have created and released TradeLens a blockchain platform operating through IBM’s cloud offering.TradeLens uses the blockchain to build smart contracts which allow multiple groups to work together with a single shared view of transactions that doesn’t break standards around privacy and sensitive data.Writing in the release IBM note how companies utilising blockchain smart contracts and TradeLens enable: “importers/exporters, customs brokers, trusted third parties such as Customs and NGOs to collaborate in cross-organizational business processes and information exchanges, all backed by a secure, non-reputable audit trail.”Maersk and IBM have made the APIs for the entire solution open, this is to help foster an environment of innovation with regards to the platform.
Cargo shipping giant Maersk and IBM announced TradeLens, a technology that applies blockchain technology to world’s global supply chain.TradeLens takes advantage of blockchain, a decentralized public ledger behind tech such as cryptocurrency — to enable global trade to be more efficient and secure.Those 94 organizations are actively involved or have agreed to participate on the TradeLens platform built on open standards as early adopters.The participants include more than 20 port and terminal operators including PSA Singapore, International Container Terminal Services Inc, Patrick Terminals, Modern Terminals in Hong Kong, Port of Halifax, Port of Rotterdam, Port of Bilbao, PortConnect, PortBase, and terminal operators Holt Logistics at the Port of Philadelphia, and global APM Terminals’ network.And freight forwarders participating include transportation and logistics companies including Agility, CEVA Logistics, DAMCO, Kotahi, PLH Trucking Company, Ancotrans ,and Shipco.TradeLens uses IBM blockchain technology as the foundation for digital supply chains, empowering multiple trading partners to collaborate by establishing a single shared view of a transaction without compromising details, privacy or confidentiality.
By Bridget van Kralingen, Senior Vice President, Global Industries, Platforms, and Blockchain for IBMIn recent weeks, the chorus of crypto naysayers, led by analysts, banks, regulators, and governments, has grown louder.Digital currencies are just the first application of blockchain to go mainstream.Blockchain networks can record and manage any transferable digital asset representing goods or information — whether a share of stock, a streamed song, your healthcare records, or an international cargo shipment — as our work with clients has shown.While the blockchain technology used to power new cryptos may not be as sexy as the digital tokens that seem to triple in value in the blink of an eye, blockchain is serving as the backbone to explore dynamic new business models far beyond finance, from healthcare and food safety to government and global trade.Each node on the network has an exact copy of the record, making it near impossible for anyone to tamper with or change it.
No more mountains of paperwork?Global supply chain to be bolstered by blockchain joint ventureA joint venture between IBM and shipping giant Maersk will use blockchain in the movement and shipment of goods around the world.The IBM and Maersk joint venture will therefore provide more efficient and secure methods for conducting global trade using blockchain technology.It seeks to “jointly developed global trade digitisation platform built on open standards.”This includes using blockchain to help shipping companies and traders move and track their goods across international borders digitally, with greater transparency, security, efficiency and simplicity.
Blockchain, the digital ledger system that underpins Bitcoin, is being put to use to fight China’s “fake” food problem.Counterfeit soy sauce, rice, wine, and eggs are among the potentially deadly items that have been found for sale in the country.“Blockchain holds incredible promise in delivering the transparency that is needed to help promote food safety across the whole supply chain,” says Bridget van Kralingen, senior vice president at IBM Industry Platforms, one of JD’s partners in this initiative.The China collaboration marks an expansion of the joint IBM-Walmart blockchain program that was launched over the summer in the US.It has already “piloted the use of blockchain to trace food items, including pork in China and mangoes in the US, as they move through the supply chain to store shelves,” said JD in a statement this morning.But shoppers will not be able to tap into this system to verify the authenticity of the groceries – at least not yet.
IBM is also developing anti-money-laundering tools and services to aid banking complianceIBM’s Watson technology is being used to catch rogue traders at large financial organisations, according to the company’s senior vice president of industry platforms Bridget van Kralingen.Watson Financial Services is currently being piloted with a few of IBM’s financial clients in the form of a surveillance tool that aims to catch mischievous traders by looking for patterns in chats, emails and analysing numerical trading data.IBM is hoping the tool will help it gain a slice of the potentially lucrative financial services industry by helping banks identify possible cases of insider trading or market manipulation.“I think about it like a detective that can do problem solving, rather than just a search.And that is the difference that many risk and compliance officers are desperate for,” said Van Kralingen, adding that Watson is more adept at identifying patterns than other technologies in the market.
International Business Machines Corp. wants to use artificial-intelligence technology to automate parts of the finance industry s regulatory-compliance effort.With its acquisition of Promontory Financial Group, announced Thursday, IBM gains the banking industry s most prominent regulatory consultant.The Armonk, New York-based technology giant said it would use Promontory s 600 employees, many of whom are former government regulators, to bolster its artificial-intelligence program, known as Watson.Promontory s professionals will train Watson, which will learn by continuously ingesting regulatory information as it is created and through interaction in real-world applications, IBM said in a statement.Regulatory-technology firms help clients save money by replacing people doing manual processes -- think scouring transactions for improper activity -- with algorithms.Banks have hired thousands of compliance personnel since the financial crisis, with JPMorgan Chase & Co. boosting those ranks 80 percent to 43,000 workers since 2011.Watson, which gained fame when it won a Jeopardy!competition in 2011, can eventually help banks with anti-money-laundering programs, risk modeling, surveillance and other issues, the company said.Promontory s experts are unsurpassed in this field, Bridget van Kralingen, a senior vice president for industry platforms at IBM, said in the statement.