New blockchain collaboration brings new technology to forefront of food traceability
Arc-net and PwC Netherlands sign a deal to bring blockchain to the centre-stage in the fight against food fraud.
Arc-net, a company that has developed the arc-net platform for supply chain authentication and security, has today announced an exciting partnership with PwC Netherlands which will see both companies combine their specialist industry knowledge to create a new model for food integrity, supply chain security and compliance.
In their own report1 PwC highlighted that food fraud costs the global economy in excess of $40 billion a year. This equates to an additional $5.00 per week on the price of an average weekly shop which, in a rising food price environment, is unacceptable. While research from the World Health Organisation2 shows that almost 1 in 10 people worldwide get ill from eating contaminated food every year.
arc-net have developed a cloud based platform that utilises the power of blockchain to enable food producers and retailers to assure customers of the provenance and authenticity of their products.
arc-net and PwC will leverage the power of the arc-net blockchain platform, which is a host for product data, and provides access to a toolset that unlocks strategic product and supply chain insights.
Kieran Kelly, CEO of arc-net, says that this collaboration will provide global food brand owners with the ability to deliver on product and brand security whilst delivering supply chain mapping and compliance.”
He continues “PwC have a rich track record in providing leading edge expertise and insights to manage change, navigate complexity and unlock value for their customers. We are extremely confident that this partnership will allow both the arc-net platform and PwC to deliver on our joint commitment to enhance the security and integrity of the food we eat.”
Hans Schoolderman, partner sustainability and food integrity says: “Where many start-ups and others discuss and research the power of new technologies, the arc-net platform offers a proven solution based on the power of blockchain that gives ultimate transparency on safety, quality and integrity of food. The partnership allows us to bring ARC’s breakthrough solution to our clients helping them solve the important challenge of bringing high quality, safe and transparent products to the market and improve the trust we have in the food we eat.”
- PWC http://www.pwc.com/foodtrust
- World Health Organisationhttp://www.who.int/mediacentre/news/releases/2015/foodborne-disease-estimates/en/