IBM has said that it is working with 63 blockchain clients on 400 projects related to the technology as companies continually embrace the emerging industry.
In a report from Business Insider, a document shows that 25 of those clients are involved with global trade with 14 focusing on global payments and food tracking. Its list of clients includes the likes of Walmart, Visa, Nestle, and HSBC.
Jim Kavanaugh, IBM chief financial officer, said earlier this year that:
For us, blockchain is a set of technologies that allow our clients to simplify complex, end-to-end processes in a way that couldn’t have been done before.
In February, it was reported that Agility, a global logistics provider, had teamed with Maersk and IBM to provide secure and efficient methods at tracking container shipments via the blockchain technology. Agility’s role is to identify events linked with individual shipments and to share and receive information about them via the blockchain. The aim is to reduce costs and increase shipping efficiency by putting information pertaining to shipments on a secure, distributed platform.
Earlier this month, Pacific International Lines (Pte) Ltd, port operator PSA International, and IBM Singapore were reported to have successfully completed a trial using the blockchain to track and trace cargo supply chain. After signing a memorandum of understanding (MOU) with IBM in August, the aim was to use innovative technologies such as the distributed ledger to improve security, efficiency, and transparency in the supply chain business.
Walmart, JD.com, IBM, and Tsinghua University are also working together to enhance food tracking, traceability, and safety in China. In December, the four came together to launch the Blockchain Food Safety Alliance in the country.
Frank Yiannas, vice president of food safety and health at Walmart, said at the time that:
As a global advocate for enhanced food safety, Walmart looks forward to deepening our work with IBM, Tsinghua University, JD and others throughout the food supply chain. Through collaboration, standardization, and adoption of new and innovative technologies, we can effectively improve traceability and transparency and help ensure the global food system remains safe for all.
The insights are designed to shine a light on how the technology can aid at improving processes such as recalls and verifications while enhancing customer confidence with greater transparency.
Featured image from Shutterstock.