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The latest flavor of blockchain technology is vanilla.
Premium Goods, a flavoring company, has partnered with Ambrosus, provider of an internet of things platform supported by blockchain, to verify the source and quality of vanilla from Madagascar. The stakes for this particular product are high: vanilla is the world’s second most expensive spice, with a price higher than that of silver. Much of the global supply comes from laboratories, so it’s crucial to be able to confirm the provenance of the highest-quality variety: Madagascar Bourbon Vanilla. On this episode, we learn about the details of the initiative from Angel Versetti, chief executive officer of Ambrosus. He explains how blockchain is being used to verify the origin of Madagascar vanilla, then monitor the quality of product in transit. We discuss the benefits of applying blockchain to this specific commodity, as well as the challenges of extending it to more complex supply chains. Is this initiative proof that blockchain is here to stay? Hosted by Bob Bowman, managing editor of SupplyChainBrain.
Look for a new episode of the podcast, which can be downloaded or streamed, every Friday on the SupplyChainBrain website and iTunes.
A video demonstrating the application of blockchain to the vanilla supply chain.
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