Ripe.io and R3 Team up to Digitize the Food Supply Chain
Ripe.io, a food tech startup, announced on June 19, 2019, that it would use R3’s Corda Enterprise blockchain solution to enhance transparency and trust in food and agriculture supply chains. The platform will rely on the cloud computing service, Microsoft Azure.
Digitization of the Food Industry
The agritech startup Ripe.io has just taken another step towards improving the transparency of the food and agriculture supply chains sector by partnering with global enterprise blockchain software firm R3.
In the food industry, many food suppliers and producers have internal mechanisms to verify quality, taste, and food safety, but what they don’t necessarily have is a way to share that information with the rest of their supply chain. For this reason, Ripe.io aims to leverage the features of Corda and Microsoft Azure to increase transparency and scalability of the food supply chain.
By exploiting a platform based on blockchain technology, Ripe.io can guarantee its customers more reliable information on the origin of food. The platform will give anyone access to transparent information on the source, travel, sustainability, and quality of the products.
Microsoft Azure will contribute to the platform thanks to its cloud technology for data, security, and improved blockchain capabilities for enterprises.
The ultimate goal is to integrate Microsoft’s advanced AI platform and tools to allow people to have as much reliable information as possible about the food they eat, grow, and sell.
R3 Continues its Expansion
As discussed on BTCManager, SIX Digital Exchange, a fully-integrated digital asset trading, settlement, and custody platform chose Corda Enterprise as its preferred blockchain platform to power its digital asset listing, trading, custodial, and settlement operations.
In May 2019, one of India’s largest IT companies, Wipro, launched an interbank settlement system for a consortium consisting of the Bank of Thailand and eight other commercial banks built on R3’s Corda platform.
Nevertheless, the collaboration with Ripe.io is the first of its kind for R3. Corda can count more than 300 international participants, but none of them falls into the food and agriculture ecosystem.
Ripe.io’s customers can now benefit from a network of international companies, including central banks, technology firms, regulators, and trade associations, to scale their business globally.