Switzerland’s Largest Retailer Launches Blockchain Platform
Switzerland’s largest supermarket chain, Migros, is integrating a blockchain-powered solution for ensuring food safety. In collaboration with TE-FOOD, the project is designed to deliver significant value for Migros and its supply chain partners.
According to the announcement,
“TE-FOOD is the world’s largest publicly accessible, farm-to-table food traceability solution. [It] serves over 6,000 business customers, and handles 400,000 business transactions each day.”
The distributed ledger technology (DLT) food traceability software will be used by the company’s fruit and vegetables supply chains.
The release notes that food companies have been launching many different traceability projects, but most of them focus solely on the marketing benefits of offering product information to consumers. With the new blockchain-based solution, Migros intends to obtain more detailed supply chain insight to streamline its business processes by optimizing distribution channels for safer and more efficient delivery.
Established in 1925, Migros is Switzerland’s largest retailer and also the largest private employer with more than 100,000 people on its payroll. The giant supermarket chain and retail outlet is operated as a cooperative society, with over two million active members.