Arc-net and PwC fight food fraud with 'breakthrough solution'
Irish tech firm Arc-net will work with PwC on a blockchain-based technology solution for battling food fraud in the Netherlands. The project will improve food traceability by using blockchain to trace food products’ passage through the production and supply ecosystem, with information verified frequently to avoid fraudulent activity. PwC has said that food fraud costs the global economy $40bn annually.

A Northern Ireland tech company specialising in food traceability is to work with PwC in the Netherlands on a new project.

Arc-net, which was founded by former butcher Kieran Kelly, said the venture would create "a new model for food integrity, supply chain security and compliance".

The firm 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 $40bn 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, said collaborating with PwC in the Netherlands would help food brand owners deliver on product and brand security.

He added: "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, said: "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.