Artificial Intelligence Awards 2021

Best Food Trading & Supply Chain Solution 2021 (LATAM Best Food Trading & Supply Chain Traceability Solution): Foodchain™ Foodchain was founded in 2019 to assist farmers in food trading, one of the main problems of which is that the food distribution chain has too many intermediaries resulting in higher prices to the consumers, lower rewards for the producers and food wastage. Foodchain is a blockchain for the food and agriculture industry. Foodchain have developed two Digital Platforms to benefit everyone from farmers to consumers. Foodchain Clarity is a robust Traceability Platform that traces every aspect of food production from input to harvest, packing, logistics to delivery to the buyer. Foodchain Marketplace is a Food Trading Platform that connects farmers with real buyers. Each platform can be acquired independently or connected for an immensely powerful traceability and food trading system. Foodchain started operations in Latin America where there are 23 million primary farms/farmers and thousands of manufactures, processors and food companies. The LatAm food business is worth 1 trillion dollars and Foodchain have identified around 10m potential customers. Foodchain have formed alliances with several Multilateral Organizations, such as Inter-American Institute for Cooperation on Agriculture (IICA), Development Bank of Latin America (CAF), LacChain - Bid Lab, several LatAm Governments and major Companies providing related services. Foodchain have four operational Traceability Pilot Programs, one in Uruguay (Lamb), Mexico (Bananas), Panama (Meat Imports) and Peru (Grapes) and have started a Pilot Program in Brazil (Cassava) and are in negotiation with El Salvador, Argentina, Brazil, Bolivia, Colombia, Paraguay, Jamaica, and 5 other Countries. Foodchain is a Digital Platform using Blockchain and AI to facilitate price discovery, trading, distribution and traceability in the food marketing supply chain. It helps to solve the challenges faced by farmers and retailers in the global food ecosystem and facilitates fair and just prices, faster payments, production advance and complete transparency and traceability. Blockchain technology and AI ensure efficient Supply Chain Traceability Management facilitating greater automation and scalability by increasing the connectivity across food production and supply networks and improving traceability in commodity movement. The technology creates a better experience for every stakeholder from the farmer, to the packer, distributor, wholesaler and consumer. Foodchain leverages AI, Blockchain technology and smart contracts to program business logic that dramatically improves the efficiency with which food products move. AI and Blockchain enhance the supply chain traceability from the time the food is produced, packed and shipped to the time it reaches the consumer and it can be tracked throughout. There is a permanently saved digital ledger, which is error-free and safe for holding transactions. Organizations can digitize physical assets and create a decentralized transactional record for greater visibility. It helps eliminate production, packing and shipping delays, reduces fraud and errors and improves management. The team behind Foodchain is a multidisciplinary group of food producers, technology experts, agribusiness professionals and others with financial backgrounds, with many years of experience in Latin America, the United States and Europe. This vast experience is being channeled for the sole purpose of providing intelligent and viable solutions to the current problems faced by farmers, buyers, retailers and consumers in the food production and supply chain. The first development was the Blockchain Hyperledger with all its components to be able to add other technologies in the development of various platforms which was developed to connect existing technologies, software, servers and Apps to the Foodchain to maximize its use with a platform for secure and fair food trades, agro-export processes, linking real farmers and buyers globally. The Traceability Platform, traces all types of food products from field to consumer, building bridges with production, harvesting, packaging, transport, logistics, finance, countries and all actors, public and private, involved in the traceability, supply chain management and food products and commodities trading. Not only does it trace the physical food products and certifications but also provides the users alarms and alerts on product food safety issues and problems throughout the food ecosystem to notify the appropriate entities to take immediate corrective actions. A few of the benefits of adopting the Foodchain’s AI and blockchain supply chain traceability: 1. Less time spent validating data and help in fraud or counterfeits. 2. Blockchain and AI allow data to be interoperable to easily share among all stakeholders as transparency in data sharing helps reduce delays and the products can be tracked in real-time. 3. Greater automation resulting in less human error and the reduction of paperwork and bureaucratic processes. Instead of managing a lengthy paper trail, the technology ensures an automated process stores all the information in a digital format and tracks the foods products from production, to pick up-and-delivery, providing a direct Foodchain