Shping and IBM Food Trust™ Pioneering a New Era of Product Transparency for Consumers

[PRESS RELEASE – Melbourne, Australia, September 28th, 2023]

Melbourne’s tech firm, Shping, collaborates with IBM Food Trust™, unveiling the possibility for consumers to interact with their purchases. This partnership seeks to deliver detailed product traceability and origin information from IBM Food Trust™ to Australian consumers via the Shping App. This combined initiative allows consumers to delve into the details of the raw materials in their products, tracing their origins and journey.

The significance of track and trace technologies is undeniable, as they document a product’s entire journey through the supply chain, ensuring its authenticity and history are verifiable. Every product and its ingredients are given a distinct identifier, closely observed throughout its production.

IBM Food Trust™, a blockchain-driven traceability platform, oversees this “track and trace” process for numerous renowned global brands. With IBM Food Trust™, brands are connected to a vast network of companies using reliable technology, ensuring the traceability of their products from raw materials to retail shelves.

Shping, on the other hand, is a global rewards platform powered by its blockchain token, Shping Coin. The platform boasts a significant Australian user base, offering them not only brand rewards but also insights into product pricing, reviews, nutritional data, and more.

The fusion of IBM and Shping’s technologies promises consumers a holistic view of trusted product data, from origins to distribution specifics, enriching their shopping experience. Both Shping and IBM share a vision to amplify consumer awareness, fortify trust, and champion transparency across industries.

Shping’s CEO and founder, Gennady Volchek, said: “Brands are increasingly adopting track and trace technologies to bolster their production’s security and integrity, aiming to instill confidence in consumers. Until now, there hasn’t been a straightforward way for consumers to access this data. Our collaboration with IBM Food Trust™ not only illuminates this information for consumers but also offers brands an opportunity to enhance their ROI through increased consumer trust, ultimately boosting sales.”

Wiggs Civitillo, IBM Food Trust’s Program Director of Product Management, added: “By joining forces, IBM Food Trust™ and Shping will bring a host of third-party benefits to consumers, including enhanced transparency into the food they consume. This partnership aims to provide customers with the information and tools they need to make more informed and health-conscious choices while shopping. Furthermore, brands that join IBM Food Trust™ are able to leverage Shping’s platform in order to increase their return on investment (ROI) in order to track and trace implementation, through enhanced consumer confidence to drive sales. Being more transparent improves brand positioning and fosters increased trust among consumers.”

About Shping

Shping is a trailblazing global rewards platform based in Melbourne, Australia. Utilizing blockchain via its Shping Coin, it offers consumers a rich shopping experience filled with insights. Collaborating with industry leaders like Coca Cola, Pepsi, and Kraft Heinz, Shping stands as a nexus between brands and their audience. Beyond rewards, Shping champions informed shopping, emphasizing trust and transparency in the retail sector.

About IBM Food Trust

IBM Food Trust™ is a collaborative network of growers, processors, wholesalers, distributors, manufacturers, retailers, and others, enhancing visibility and accountability across the food supply chain. Built on IBM Blockchain, this solution connects participants through a permissioned, immutable and shared record of food provenance, transaction data, processing details and more.

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