Neogen Corporation is a publicly-traded food safety company. It has a $3.75 billion market cap. The company now looks to the food safety industry blockchain startup Ripe Technology to track supply chains. According to the press release, the two companies are going to work together to use blockchain as a permanent, immutable, means to record the whole production process of food consumption and livestock.
The New Partnership
Neogen is an international food safety company that provides test kits and relevant products to detect dangerous substances in food, while Ripe was launched in 2017 and seeks to improve food confidence.
John Adent, CEO Neogen, said in the press statement that:
Blockchain technology has a lot to offer both our food safety dianostic and animal genomic customers. The technology permanently connects a tremendous amount of potentially critical data. It includes results from Neogen’s tests, to a food product or animal.
Raja Ramachandran, CEO of Ripe Technology holds a belief that its company’s animal diagnostics and DNA expertise can bring transparency and authenticity to the food supply chain. He thinks this will change the food industry and improve food safety for consumption to a whole new level.
Companies Globally Working to Improve Food Safety with Blockchain
As per the reports came a few months ago, IBM announces its collaboration with ‘Raw Seafoods’ to digitize the supply chain for scallops sourced from the Atlantic Sea Scallop Fishery via the IBM Blockchain Platform. Nestle also reveals its plans for bringing blockchain to its product souring process.
Earlier this week, French Food Company looks to IBM’s blockchain platform for better sourcing. In June 2019, the US Food and Drug Administration shows interest to use this emerging technology for the drug supply chain. Malaysia state plans to use blockchain for food and agricultural products supply chain.
With so much adoption going around, it’s clear that blockchain has evolved from its earlier use case for cryptocurrency. Sooner this emerging technology will make every sector secure, faster and more trusted. What do you guys say? State your comments below!