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Trace Labs introduces decentralized Food Data Market on OriginTrail

www.cryptoninjas.net 16 March 2020 06:10, UTC
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Trace Labs, a core technology builder of the open source OriginTrail protocol for inter-organizational data exchange, today introduced the Food Data Market (FDM), a decentralized marketplace that incentivizes data sharing with the goal of contributing to sustainable supply chains.

Overview: Food Data Market

Food Data Market is a comprehensive marketplace supporting new economic models for the future of sustainable food supply chains. It encompasses trust, neutrality, and inclusiveness, which are the core elements of distributed ledger technologies.

At the same time, it aligns the incentives of participants along the supply chain. This is enabled by a privacy-by-design approach; that allows farmers and cooperatives to win back control over their data, give it a fair price, and sell it to supply chain partners that recognize its value.

Incorporating a human-centric user experience, the Food Data Market solution enables data sellers to provide datasets to data buyers through a streamlined interface for direct and disintermediated compensation underpinned by an open-source, decentralized infrastructure.

In a pilot project for the LEDGER program, Perutnina Ptuj, a leading poultry manufacturer in Southeastern Europe, installed Kakaxi IoT devices to gather sensor information and images from one of their farms. By purchasing this data, retailers that sell Perutnina’s products under their private labels can reassure their consumers that they support the highest animal welfare standards in their supply chain.

LEDGER Program

Trace Labs, the core development company of the OriginTrail protocol, has already been recognized for its solutions for trusted data exchange between organizations with the Food Safety Innovation Spark Award from Walmart’s Food Safety Collaboration Center in 2017 and the Food+City Challenge Prize. Partners in the OriginTrail ecosystem include Oracle, BSI, and GS1.

The LEDGER program supports research and innovation projects that focus on privacy-by-design, reliability, trustworthiness, and openness as core values. The program started in 2019. From almost 300 applicants, only 16 were selected for funding and so Trace Labs became one of the top 5% teams. The Trace Labs team successfully managed all of the stages of the program.

LEDGER is an initiative of the Next Generation Internet (NGI); which is funded by the European Commission with the purpose of creating the future internet as an interoperable platform ecosystem. The focus had to be on openness, inclusivity, transparency, privacy, cooperation, and the protection of data.

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