Walmart's Blockchain Technology Can Give Consumers Product Traceability

Walmart's Blockchain Technology Can Give Consumers Product Traceability
  • Bitcoin’s blockchain technology is making it’s way into the foodservice industry.

  • As an example, Walmart and tech giant, IBM, have partnered together to create a digital system providing food traceability to consumers.

You’ve probably heard about blockchain as it was initially developed for, the cryptocurrency Bitcoin. But now the technology in the cryptocurrency context is being developed for the food service industry.

Blockchain as defined by Investopedia is a digitized, decentralized, public ledger of all cryptocurrency transactions. Constantly growing as ‘completed’ blocks (the most recent transactions) are recorded and added to it in chronological order, it allows market participants to keep track of digital currency transactions without central record keeping. Each node (a computer connected to the network) gets a copy of the blockchain, which is downloaded automatically.

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FDA to Meet Over Fiery Cultured Meat Labeling Debate

FDA to Meet Over Fiery Cultured Meat Labeling Debate

The U.S. Food and Drug Administration will host a public meeting July 12th to discuss cultured meat as the debate over labeling the new technology intensifies.

According to New Food Magazine, back in February the U.S Cattlemen’s Association submitted a petition to the U.S. Department of Agriculture requesting they ban labeling cultured meat as “meat.” The USCA’s petition argues that the USDA must establish labeling requirements to differentiate beef products derived from cattle from those created in a laboratory.


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Menu Innovation is Expected from Chipotle as Former Taco Bell CEO Takes Over

Menu Innovation is Expected from Chipotle as Former Taco Bell CEO Takes Over

It looks like nachos, quesadillas, salads and new grain options may possibly be new Chipotle menu items, according to Founder and Executive Chairman Steve Ells.

“These are things customers are asking for,” said Ells on the company’s latest earnings call, as reported by Bloomberg.

Just last week, the company began to test a new non-dessert offering, spokesman Chris Arnold told Bloomberg via email. This happened a few days after news broke Brian Niccol, the former chief executive officer of Yum! Brands’ Taco Bell Division, is set to lead Chipotle starting March 5.

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Chipotle steals the Taco Bell CEO To Rescue Fast Casual Brand

Chipotle steals the Taco Bell CEO To Rescue Fast Casual Brand

The search is over and faith in Chipotle’s future seems to be on its way to being restored.

On Wednesday morning, Chipotle shares experienced a 14 percent hike, according to “Bloomberg.”

This is thanks to Chipotle’s Tuesday announcement that founder Steve Ells will be officially stepping down by March 5 of this year as the chief executive officer to pass along the post to Brian Niccol, former CEO to Yum! Brands’ Taco Bell Division.

Steve Ells will transition from a Chipotle Chairman role to an Executive Chairman for the brand, as he welcomes Brian Niccol as a new member of Chipotle’s Board of Directors.

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Tyson Foods Has a Positive Outlook For the Future

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Tyson Foods’ CEO Tom Hayes sees a bright future for the company, especially after it exceeded expectations for 2017.

"We delivered well over our goals of at least four percent operating income growth, EPS growth in the high single digits and three percent volume growth in value-added products, and expect to meet or exceed these goals again in fiscal 2018," said Hayes.

In a recent CNBC interview, Hayes talked about how he believes big companies need to set the example for smaller companies when it comes to being part of the solution to “feed nine and a half billion people by 2050.”

Well, Tyson Foods is setting an example, alright!

The company has proved to be in tune with consumer trends. For example, Tyson has seen record sales for their Open Prairie Natural brand of fresh meals as they see customer demand growing double digits for No Antibiotics Ever (NAE) and no-added hormones natural fresh meats.

“Gatekeepers within the customer are asking continuously to be NAE. We're fully NAE now, and we're actually buying meat on the outside that's NAE. The cost [is] a little bit more on the upfront and we've been able to swallow that cost and then remove that cost," Hayes told analyst Farha Aslam at Stephens who asked about the reason behind the launch of NAE products.

Another trend that Tyson has invested in is alternative protein. The company bought into Beyond Meat with a five percent stake in the vegan business, surprising many as the big food company tests the waters of this fast-growing segment of the protein market.

Speaking of meat, even though Tyson’s 39 percent sales come from beef as the leading protein, the majority of the company’s sales come from leaner meat with chicken accounting for 30 percent of sales and pork accounting for 14 percent. This is a good sign for the company since there is a trend of consumers moving away from red meat.

A fourth area that is expected to grow in volumes is the prepared foods market. In the financial year 2018 the segment is expected to grow around 10 percent, boosted by the AdvancedPierre Foods deal, struck earlier this year by over four billion dollars.

Analysts covering Tyson at Morgan Stanley believe the company looks well set for a solid 12 months, writing in a note to clients on Monday: "Tyson appears well positioned to achieve another record year."

This Food Supply Blockchain Between IBM, Nestlé and Walmart Aims To Improve Food Safety

This Food Supply Blockchain Between IBM, Nestlé and Walmart Aims To Improve Food Safety

Global food safety is a major concern in the world.

Retailers and food companies, like Nestlé and Walmart, have announced a blockchain collaboration with International Business Machines Corp. (IBM), one of the largest information technology companies in the world, to help address concerns and help “strengthen consumer confidence” in the foods purchased.

IBM is tasked with identifying the “most urgent areas” across the global supply chain that would benefit from the blockchain, as reported by “Forbes.” “Many of the critical issues impacting food safety such as contamination, food-borne illness, waste and the economic burden of recalls rest though on a lack of access to information and traceability.”

The blockchain will fill in the gap that currently exists since the supply chain is currently not being overseen and it is hard to trace problems to the actual source.

Data will help identify the source through this proposed blockchain.

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