TruTag Technologies and PwC Australia form alliance on Food Trust Initiative
TruTag Technologies, a provider of product identity solutions, announced a strategic alliance with PwC Australia, which will see TruTag's "edible barcode" technology incorporated as part of the PwC Food Trust initiative.
TruTag’s ‘edible bar codes’ are secure crypto anchors that can authenticate high-value products like top grade beef.
The globalization of supply chains has led to a loss of control and visibility. Food misrepresentation, adulteration, diversion and counterfeiting are jeopardizing consumer safety and costing the food and beverage industry billions in lost revenue. PwC Australia and TruTag's alliance is seeking to address these challenges by bringing security and traceability to global food supply chains.
The PwC Food Trust Platform is one of the most advanced and holistic anti counterfeit technology solutions for the food and beverage industry. PwC Australia has developed the Food Trust Platform to provide manufacturers and consumers with greater confidence in the provenance of food products. Integrating TruTag's edible barcode technology into the Food Trust Platform will enable it to deliver unrivalled supply chain visibility.
"Blockchain technology offers brand owners a new means of sharing information and improving supply chain visibility. However, these systems are still reliant on ensuring a secure link or crypto anchor between the physical and digital world." said Trent Lund, Lead Partner Innovation and Ventures.
"TruTag's covert edible barcodes act as a perfect crypto anchor offering unrivalled security and a unique ability to directly mark foods and food-contact packaging."
PwC Australia and TruTag are already working on developing supply-chain technology programs with lead customers in the meat and wine industry. They are also working to expand their focus into other food and beverage applications.
"We are thrilled to be working with PwC Australia on this initiative, said Barry McDonogh, SVP Business Development at TruTag Technologies. "PwC brings a shared vision for food traceability, a highly complementary technology platform, and the resources to scale and deliver across multiple industry segments and geographies."
For more information visit www.TruTags.com.