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The Cooperativa Conde de Benalúa will add its organic olive oil to the IBM blockchain

October 22, 2020

An article published by Diario Vasco on its website indicates this The Conde de Benalúa oil cooperative will include the traceability and transparency of their best product on the IBM blockchain.

On this occasion, the Conde de Benalúa cooperative will be part of this important blockchain with its best product, organic extra virgin oil This enables us to know from the harvesting process to the arrival of the oil in the gondolas.

This cooperative brought together more than two thousand Andalusian farmers and sold 12 million liters of oil in the 2019/2020 season that has just ended. By adding the product to the Ibm blockchain, consumers around the world can buy their oil with full confidence and know all the details of its manufacture.

The Cooperativa Conde de Benalúa will add its organic olive oil to the IBM blockchain
The Cooperativa Conde de Benalúa will add its organic olive oil to the IBM blockchain

In this regard, Ibm Spain’s managing director, Santiago Bollaín, told Diario Vasco:

“Consumers around the world can follow food traceability with complete confidence,” he also stressed. “The corporate blockchain differs, at least as we at IBM understand it, a little bit from the basic technology.”

In Conde de Benalúa, the olives are received from the farmers and then the selection, weighing and classification process begins, for which they are digitally recorded. The oil is then extracted from each olive and later given the Montes de Granada Designation of Origin seal by a tasting team when the required parameters are met.

This type of oil is marketed throughout Spain, Italy, Germany, Switzerland and the USA.With the implementation of the Food Trust, customers can follow the entire production process of the oils. The technological partner is Ibermática and the project is currently under development.

In this regard, the Ceo de Conde de Benalúa pointed out that:

“The aim is for consumers to be clear about everything that is behind the oil they use every day in their kitchen, while also knowing that when they pay for a good product, it is really about the product, that it claims to be. “

Every member of the blockchain network has an exact copy of the data, and any information added to the blockchain is shared across the network based on the privilege level of each participant. In this way, farmers, wholesalers and retailers can interact more efficiently and access data in a comprehensive manner and in near real time.

Blockchain technology makes it possible to interact in this way and add relevant information to the products, with the peculiarity that the information is added but the original information is not changed, that the blockchain guarantees the immutability of the information and creates the necessary trust in order to be able to offer it A transparency of the information that could hardly be achieved before 2008.

The blockchain developed by IBM is robust and reliable. Numerous medium and large companies have successfully implemented them. In cases like Walmart, for example, manufacturers have been asked to join this technology in order to create more trust in the end user.

In the beginning, IBM was one of the largest (if not the only) companies able to create a traceability system that brings manufacturers, carriers, retailers and wholesalers together on a single platform. This is not currently the case, which is still a development point for IBM. IBM’s investments in human and technology capital have paid off.

Smart ports are also part of this ecosystem that aims to digitize myriad threads that add cost and time. The use of this technology shortens delivery times and at the same time guarantees uninterrupted traceability from production to the end user.

Countries in Latin America, Europe and Asia have already implemented technologies that are compatible with platforms such as IBM. Every year the growth of fintech companies has increased significantly, which is why these new companies’ additional investments in disruptive technologies result in a more solid update of companies.

Platforms such as IBMs and key partnerships between trade centers in Europe and Latin America in the manufacture, distribution and sale of food are both necessary and convenient in times of technological impetus.. Blockchain as a spearhead for new technologies has shown a versatility that has enabled development through many industrial sectors.