US food co-operative to pilot Mastercard blockchain bringing visibility to food provenance
Topco will work to provide better guidance into ethical sourcing and environmental compliance of seafood selection
Mastercard is collaborating with Envisible, a company that enables supply-chain visibility to food that people eat every day.
Envisible’s Wholechain traceability system will be powered by Mastercard’s blockchain-based Provenance Solution and used by Topco Associates, a US food co-operative, to help trace the provenance of groceries, meat and seafood.
Topco is working with its member grocery chains to pilot the use of the technology to provide better guidance into ethical sourcing and environmental compliance, starting with the fish and seafood sold in their stores. The first to be tracked will be salmon, cod and shrimp.
Built on its proprietary blockchain technology, the Mastercard Provenance Solution helps brands provide visibility into product journeys and a clear record of traceability designed to contribute to consumer confidence, trust and awareness.
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The identity of food is becoming “even more important” as consumers raise demands for transparency, said Deborah Barta, senior vice president, innovation and start-up engagement, at Mastercard in a statement.
“Our provenance solution leverages Mastercard’s established network capabilities, globally-scaled technology and services, such as payments and counterfeit programs. This allows us to deliver trust, financial inclusion and back-end efficiencies to the marketplace.”
Topco Associates is a $14 billion, privately held, member-owned company that provides aggregation, innovation and knowledge management solutions for food industry member-owners and customers, including grocery retailers, food wholesalers and pharmacy companies.