R3 and ripe.io partner on Blockchain for food and agricultural supply chainR3
R3, a global enterprise blockchain software firm and Ripe Technology (ripe.io), the innovative startup bringing blockchain to the food industry, are joining forces to improve transparency and trust in food and agriculture supply chains through the digitization and enterprise adoption of blockchain.
Through the collaboration, ripe.io will leverage R3’s Corda Enterprise and Microsoft Azure to serve its growing food and agricultural customer base. A key feature of the Corda Enterprise platform is its scalability and data privacy management, which is essential for ripe.io’s institutional customers. Through the use of R3’s platform, development community, and ecosystem, both companies will be able to more effectively use distributed ledger systems to rapidly digitize the food supply chain.
“This is another important vote of confidence in R3’s technology to deliver results and build a more efficient food supply chain,” said David E. Rutter, CEO and founder of R3. “ripe.io has been on the forefront of engaging all of the actors in the supply chain to digitize activity from farm to fork. As a blockchain platform built with the rigorous privacy demands of global business in mind, Corda Enterprise is the perfect platform for their efforts. We are excited to welcome ripe.io to the R3 community and to expand our ecosystem into food,” he added.
The cooperation will enable ripe.io to continue its mission to build long-lasting trust and confidence in the food supply chain through a platform where everyone will be able to access transparent and reliable information on the origin, the journey, sustainability and the quality of their food. Raja Ramachandran, CEO of ripe.io, said: “This collaboration is an important and exciting milestone for our company. I want to express, on behalf our entire team, how energizing it is to have the support, encouragement and endorsement of R3 and Microsoft to continue our work of empowering people to make confident choices about the food they eat, grow and sell.”
Concurrently, it will allow R3 to expand its platform into the food and agriculture ecosystem, a previously untapped market for its technology. By connecting into the Corda ecosystem, ripe.io’s food and agriculture supply chain participants will join more than 300 of the world’s largest companies already utilizing the R3 platform, including financial services organizations, technology firms, central banks, regulators, and trade associations.
Microsoft will support the effort with cloud technology for data, security and improved blockchain capabilities for enterprises. The companies will explore incorporation of Microsoft’s advanced AI platform and tools, specifically tailored to the needs of the vast food and agriculture domains, that are in need of transparency and improved trust, enabling consumers to know more about their food.
Craig Hajduk, Principal PM Manager, Microsoft Azure at Microsoft Corp. said: “As digital transformation sweeps through the food and agriculture supply chain and extends beyond the walls of an individual organization, companies need solutions that enable them to securely optimize and share their business processes and data. We see ripe.io as an agent of innovation and are thrilled to partner with them.”