Rolar de Cuyo Taps IBM Food Trust to Provide Insight on the Quality and Origin of its Extra Virgin Olive Oil
Buenos Aires, October 2, 2020 — Rolar de Cuyo, a company producing high-quality international olive oil, and IBM (NYSE: IBM) today announce that Rolar is using IBM Blockchain to provide traceability for its olive oil across the production chain. This technology monitors the journey of the olive until it is converted into bulk oil, which is bought by renowned companies such as Aceitera General Deheza and Molinos Río de la Plata.
According to the International Olive Council (IOC, Argentina produced 20,000 tons of olive oil in 2019 and Federación Olivícola Argentina (FOA) estimates it will produce between 20,000 and 25,000 tons in 2020, with the vast majority of the country's production destined for international markets1.
“ Our vision is to be the best extra virgin olive oil alternative for large companies that pack the product with their brand. For this reason, from Rolar de Cuyo we want the main extra virgin olive oil buyers worldwide to trust us and choose our products. To help achieve this, IBM blockchain technology provides the transparency we need to trace the origin of our products and support quality compliance processes to reach consumers' tables,” said Guillermo José Albornoz, Director at Rolar de Cuyo.
By joining the IBM Food Trust, Rolar de Cuyo will use IBM blockchain technology on IBM Cloud to monitor the production process, from the moment the olive trees are planted to the selection and harvest of the olives to its conversion into extra virgin.
Blockchain technology can help enable greater trust across the supply chain by creating an immutable, digitized record of transactions. Olive farmers and makers can all share information more efficiently using near real-time access to comprehensive product data.
“We are increasingly aware of how important it is to know the origin and life cycle of the products we consume. Technology is an important ally in this regard and with IBM Food Trust we provide Rolar de Cuyo with a single source of secured and transparent information about the olives in the olive oils that they produce, helping encourage responsible food consumption throughout the population”, says Fabrizio Carbone, IBM Cloud & Data Manager at IBM Argentina.
A recent IBM Institute for Business Value study found 71% of consumers surveyed will pay a premium for full transparency into the products they buy. Using blockchain technology creates a verifiable record of the production of olive oil, which can give consumers confidence in the origin and condition of the products they buy and eat.
IBM Food Trust is one of the largest and most active non-crypto blockchain networks in production today, it is available as a subscription service for members of the food ecosystem to join. Several Argentine companies have joined this global network, that is not just for big companies. Recently, the startup S4—dedicated to creating technology to reduce climate and productive risk in crop production—joined the IBM Food Trust and incorporated blockchain technology into its S4Go product. In this way, the company is able to register the geographical location of the lots and their production technical information, creating visibility and responsibility in the origination chain from the initial moment.
About Rolar de Cuyo
We are a family business born in 2008 planting olive groves in the Province of San Juan. We produce the extra virgin olive oil that the leading brands use in their bottles. We give value to large companies with our product through a quality service.
About IBM Food Trust
For more information, visit ibm.com/food.