Bureau Veritas launches Origin, the world’s first blockchain-based complete food traceability solution
Paris La Défense, France, March 1st 2018
Bureau Veritas launches Origin, the world’s first traceability label to give consumers a complete end-to-end proof of a product’s journey, from farm to fork. This solution will be presented to an international audience on March 5th 2018 in Tokyo, at this year’s Global Food Safety Conference.
Origin, built on blockchain technology, offers a smart and practical way for consumers to access information on each stage of a product’s journey. Shoppers flash a QR code in-store to see the full history of each product, and make informed purchase decisions.
Food industry players throughout the value chain also benefit from this cost-effective solution. Brands and retailers are able to better control supply chains, through better visibility as well as real time management of product recalls.
Projects are underway with a number of Bureau Veritas clients, and the technology is now ready to be launched to the wider market.
Vincent Bourdil, Vice-President Food at Bureau Veritas said:
“The launch of Origin follows two years of work by Bureau Veritas to develop blockchain applications that increase confidence in transactions. Origin is a win-win solution not just for consumers, but also for retailers, suppliers, processors and manufacturers, as it adds value to the final product. With Origin, product recalls can be managed in real time, enabling the brand to preserve its reputation.”
The use of blockchain makes Origin technologically innovative and resolves key challenges that have made full food traceability elusive until now. Built in partnership with Worldline, a leader in securing digital transactions, it is first solution of its kind to leverage the technology.
Olivier Stuckens, Managing Director Mobility & e-Transactional Services at Worldline said:
“Blockchain offers unique advantages for a product such as Origin: it is secure, open, transparent, and does not require a controlling entity. Using blockchain technology revolutionizes how transactions are verified, thereby increasing reliability of information. This feature means that while Origin has been developed with the food industry in mind, it can be used for any sector.”
Food verification schemes have traditionally relied on third party inspections and sampling at each stage of the food production process. By contrast, a blockchain-based solution enables continual and complete verification, by demanding that all the players share records and validate transactions each time they occur. At the same time, sensitive data remains confidential, with each party awarded different levels of access to information.
Bureau Veritas Services
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About Bureau Veritas
Bureau Veritas is a world leader in laboratory testing, inspection and certification services. Created in 1828, the Group has around 74,000 employees located in 1,400 offices and laboratories around the globe. Bureau Veritas helps its clients improve their performance by offering services and innovative solutions in order to ensure that their assets, products, infrastructure and processes meet standards and regulations in terms of quality, health and safety, environmental protection and social responsibility.
Bureau Veritas is listed on Euronext Paris and belongs to the Next 20 index.
Compartment A, ISIN code FR 0006174348, stock symbol: BVI.
For more information, visit www.bureauveritas.com
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Worldline [Euronext: WLN] is the European leader in the payments and transactional services industry. Worldline delivers new-generation services, enabling its customers to offer smooth and innovative solutions to the end consumer. Key actor for B2B2C industries, with nearly 45 years of experience, Worldline supports and contributes to the success of all businesses and administrative services in a perpetually evolving market. Worldline offers a unique and flexible business model built around a global and growing portfolio, thus enabling end-to-end support. Worldline activities are organized around three axes: Merchant Services, Mobility & e-Transactional Services and Financial Services including equensWorldline. Worldline employs more than 9,400 people worldwide, with estimated pro forma revenue of more than €1.5 billion on a yearly basis. Worldline is an Atos company.
For more information, visit: www.worldline.com