Tim Clancy discusses how Smithfield Foods are applying blockchain technology
[VIRTUAL CONFERENCE] The leading Blockchain Expo World Series announced it’s free North America Virtual Expo taking place on the 4-5th November 2020.
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Hear from one of our top speakers Tim Clancy, Senior Director, IT Business Relationships for Smithfield Foods:
- How is your company applying blockchain?
Working with existing supply chain partners on production pilots to explore technology with simple use cases. Working with industry stakeholders on strategic initiatives that will establish shared standards and tech across the industry. We are focusing on business value, not just tech innovation.
- What were the biggest challenges, &/or benefits, in using blockchain technology?
Biggest challenges seem to be interoperability between blockchain solutions and maintaining security and control and ownership of our data on the a platform. Future benefits would be the ability to streamline supply chain interactions and to reinforce the integrity and confidence in the food chains industry wide.
- What is your company’s roadmap for the rest of 2020 and what should we expect to see from your team in the next 12 months?
Automating and digitizing food safety certification sharing with our customers and suppliers. Creating a framework for evaluating blockchain opportunities. Is this business problem a candidate for blockchain? Is this vendor’s business model a fit for our goals? Which blockchain tech is the best fit for our environment and use case?
- How are you seeing the rate of blockchain projects move from pilot to production? When do you think blockchain could become a mainstream technology?
Many potential pilots, few delivering long term business value. There is still a lot of hype around blockchain. Stand-alone company blockchains that don’t include the partner touch points along the supply chain are not going to deliver on the promise. For blockchain to go main stream and deliver true business value there will need to be wide spread industry adoption and interoperability of platforms.
- Who is your hero/mentor in this space: what lessons have you learned from them and how have you applied them in your career?
We listen to many blockchain companies and requests for blockchain collaboration. We learn something new from each interaction that helps us focus our blockchain approach and goals
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