Firms in Northern Ireland and Netherlands to combat food fraud
Arc-net, the Northern Irish business specialising in food traceability, is to work with PwC in the Netherlands on a new project to counter food fraud.
Arc-net, which was founded by former Banbridge, county Down butcher Kieran Kelly, says the venture will create "a new model for food integrity, supply chain security and compliance".
Based in Belfast, Arc-net uses blockchain technology to monitor stages in the food production process and guard against food fraud.
Business advisors PwC have claimed that food fraud costs the global economy over £30 billion every year.
Scandals affecting the food chain have ranged from the horsemeat controversy of 2013, to the use of slaughterhouse waste in oil in China in 2014.
Mr Kelly, chief executive of arc-net, adds collaborating with PwC in the Netherlands will help food brand owners deliver on product and brand security.
He continues: "PwC has a rich track record in providing leading edge expertise and insights to manage change, navigate complexity and unlock value for their customers.
"We are extremely confident that this partnership will allow both the arc-net platform and PwC to deliver on our joint commitment to enhance the security and integrity of the food we eat."
Hans Schoolderman, PwC partner in sustainability and food integrity, explains: "Where many start-ups and others discuss and research the power of new technologies, the arc-net platform offers a proven solution based on the power of blockchain that gives ultimate transparency on safety, quality and integrity of food.
"The partnership allows us to bring arc-net's breakthrough solution to our clients helping them solve the important challenge of bringing high quality, safe and transparent products to the market and improve the trust we have in the food we eat."
Mr Kelly has said blockchain technology lends itself well to food traceability. "It creates trust among ecosystem members, who can validate the information and assets as they transfer," he said.