Nestle Announces Own Blockchain Initiative

The largest food conglomerate by revenue, Nestle, has announced a blockchain pilot that will enable them to efficiently and effectively track its supply chain.

The new blockchain pilot should not be confused with its current blockchain project with IBM’s Food Trust blockchain as the two are two distinct blockchain initiatives.

Nestle has partnered with OpenSC, a blockchain platform, which will help them develop the distributed ledger system and launch the pilot that will last six months.

The success of the project will be determined by the feasibility, viability, and scalability of the system as well as how well the system verifies data.

According to a representative from the company once the project is launched the service will involve a QR code, mobile app and a web portal.



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