DUBLIN,CA - iTradeNetwork has revealed its first homegrown blockchain software designed for perishables. The new iTrade Blockchain uses Hyperledger Fabric and GS1 standards as foundational elements.
“Our blockchain is a cut above others, however, for a simple yet extremely powerful reason: It is built upon iTrade’s own applications and the data they collectively house,” said President and CEO Rhonda Bassett-Spiers. “For 20 years, we’ve provided over 5,000 retailers, distributors, grower-shippers, food manufacturers, operators, and logistics providers with tools that help manage their supply chains.”
Bassett-Spiers continued: “Unlike other blockchains that are largely mosaics of 3rd party information, we capture food supply chain data right at the source—product catalogs, purchase order data, quality inspection information, logistics data, as well as dozens of distinct product attributes within our traceability suite. As a technology, blockchain done right has the potential to meet a strategic necessity—giving consumers confidence and trust in their food. To add to that, however, iTrade is uniquely positioned to create a story about what we eat that’s unparalleled.”
According to a press release, using Hyperledger Fabric and GS1 standards as foundational elements, the iTrade Blockchain is also designed around interoperability.
“Hyperledger Fabric has emerged as the backbone of blockchain implementations for the supply chain,” noted Guy Hopkins, Head of Development and Enterprise Architecture. “Its ability to secure and control access to data, combined with its high transactional throughput, make it an excellent choice for our initiative. Enhancing the rich feature set of the existing iTrade platform to share food supply chain data across blockchains is another important consideration that opens up a lot of possibilities, and leveraging GS1 standards with our blockchain allows participants to do just that.”
The iTrade Blockchain is the latest in a string of innovations iTrade has brought to the market in the last 12 months, including Transit—a Palletized ASN traceability solution, an SFCA Module that drives compliance for the Safe Food for Canadians Act, and a brand new order management, traceability, and quality inspection platform for ambitious mid-market retailers.
"There are a few reasons why we call ourselves the 'no-nonsense, homegrown blockchain for the food industry,'" added Rene Cardenas, Head of Marketing and Strategic Planning. “First, we have a long history working with all types of companies involved in the food supply chain. We know the intricacies of how data is captured at different points in the chain, the associated business challenges, and the value this information provides from multiple perspectives beyond food safety and compliance. We thoroughly understand the varying degrees of technology adoption and capabilities across supply chain players as well, so we’re in the position to offer large and small players alike a variety of value-added services out of the box that other blockchains aren’t designed to offer.”
As stated in the company’s press release, iTrade is currently in discussion with several national and international retailers, as well as distributors, wholesalers, and grower/shippers in advance of a launch later this year.
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