The J.M. Smucker Company is hoping on the supply chain transparency bandwagon by starting to use blockchain technology.
Smucker’s partnered with Farmer Connect; this startup uses IBM’s blockchain to trace products from farm to table for consumers. Once a customer scans a QR code on the packaging of their coffee, their phone or table will take them to the Thank My Farmer website where they presented with information about where the coffee was grown, processed and exported. Smucker’s is trialing the software with their 1850 100% Colombian bagged coffee.
Sustainability and environmentally responsible brands are very important to many consumers who are willing to pay a premium for brands who meet their high standards. IBM’s blockchain technology provides this information in an easy way for both the producer and the consumer.
People also like a story that comes along with a hand-grown, hand-crafted product. Who produces it, their name, their history, their story can be equally valuable to a consumer. In vast ocean of faceless or celebrity endorsed products knowing the story of “the little guy” who grew your coffee or whatever the product is can has value.