Cargill is investing its own digital engineering resources to develop Hyperledger Grid, a project which aims to streamline supply chains by using blockchain and other digital solutions.
“Hyperledger Grid is another way to help make food and agricultural supply chains more inclusive – creating new markets for farmers and developing economies,” said Keith Narr, vice president of Cargill Digital Labs, on 23 January.
Hyperledger Grid is a recently announced project from Hyperledger, a large collaboration hosted by the Linux Foundation and including IT giants such as IBM, SUP, Intel, and financial institutions like JP Morgan and Deutsche Börse, according to Cointelegraph.
Cargill said that Hyperledger Grid could provide a suite of tools which it could use to address agricultural supply chain issues such as traceability, food safety and trade settlement.
“Hyperledger Grid is an incredible opportunity for supply chain participants to leverage the power of open-source software,” said James Mitchell, president of Bitwise IO, a US-based start-up focused on blockchain technology platform development. “For the first time, organisations building supply chain solutions will be able to collaborate on shared industry-standard frameworks, rather than relying on proprietary software or costly ‘from scratch’ development efforts.”
The creators of Hyperledger Grid describe the project as “an ecosystem of technologies, frameworks and libraries that work together, letting application developers make the choice as to which components are most appropriate for their industry or market model.
Blockchain technology is a growing tool in the agricultural industry. In January, technology company IBM Spain and Galprago, a company focused on high yield olive groves, partnered up to install blockchain technology to trace all stages of extra virgin olive oil production and distribution.
Blockchain technology is a data holding platform which can be accessed by anyone to view. Digital data is separated into blocks, connected by a digital chain, which shows transaction information from owner to owner. The transaction information is very difficult to tamper with, providing transparency in the value and legitimacy of a product.