Software Provides Provenance, Authenticity and Sustainability from Farmer to Consumer
HALIFAX, NOVA SCOTIA, February 27, 2023 – Barrington Edge’s Authen™ platform is now live and has successfully authenticated its first product shipment of fish from Central America to Canadian retailers.
Barrington Edge has been working with their client, FutureWELL, located in Kelowna, BC Canada, along with farmers, processors, distributors, and retailers across North America with the goal of sourcing the highest quality food available and getting that food to market.
Barrington Edge’s software platform, Authen™, calculates the environmental impact of getting food from the farm to a retail shelf, and also computes the authenticity and provenance of the food to help deliver a high degree of trust to the consumer.
“Consumers are beginning to demand information that helps them make informed decisions about the food that they buy,” said Trent Coghill, President of FutureWELL Business Solutions. “Consumers want the most healthy and fresh food from farmers that is grown with the most sustainable and clean farming practices. In order to feed this demand, the global supply chain must: Provide a transparent pathway of information to the consumer that defines what, where, and how the food item was grown (AUTHENTICITY) and provide a transparent pathway of information to the consumer that defines the carbon journey from seed to shelf (SUSTAINABILITY).”
The platform was developed through Authen, a business subsidiary of FutureWELL, and combines sophisticated algorithms; over 200 data sources including genomics, farming practices, nutrition, and environmental factors; blockchain for immutability and trust; track and trace for the food journey; smart contracts to manage the supply chain process; and artificial intelligence and data analytics for gathering and managing data.
A QR code affixed to a tamper proof product label at the retail location provides the complete history and journey of the food product, allowing consumers to choose between competing brands as to which one to purchase (at the same price).
The global food industry is valued at $11 trillion dollars and is expected to grow to $14 trillion by 2030. Environmental challenges are putting huge pressures on the food supply chain to produce and provide healthier, more nutritious food at a lower cost to the environment and with sustainable farming practices.
At the same time, the food industry is struggling with an alarming increase in food fraud.
“From olive oil that has been cut with cheaper ingredients to honey infused with banned antibiotics and ground coffee contaminated with corn and sawdust, the food you eat is ripe for fraud. Not only that, but it’s costing consumers $30 billion to $40 billion a year worldwide.” – Michigan State University’s Food Fraud Initiative.
“In summary,” said Dennis Young, Managing Director at Barrington Edge and the Founding President of Authen, “We are helping to change the food industry by helping to answer the questions: ‘Where does my food come from?’; ‘Can I trust the information?’; and ‘Is this product better for the planet?’.
“Authen™ provides the provenance of the product from seed to shelf. Authen™ utilizes blockchain technology to eliminate economically motivated alteration of product and process data, and Authen™ accumulates specific data throughout the entire supply chain, including carbon footprints, to produce trustworthy data that the consumer can use to make purchasing decisions.”
The Product Management and Development team is headquartered in Halifax, Nova Scotia, with a distributed team located across the world contributing to the platform 24X7.
“This is the most exciting work I have done in my career, and it is resulting in something revolutionary for the planet,” said Young.
The Authen™ platform learns over time, gathering from and contributing to a global data set of environmental, social, and governance (ESG) measures that are designed to revolutionize food production.
Coaching is provided to farmers about how to reduce their carbon footprint; to shipping and logistics companies on better ways to transport and store products; and to retailers on how to effectively connect with consumers regarding the choices now available to them.
About Barrington Edge
In a world of increasing complexity, Barrington Edge has evolved as a professional services firm that accelerates growth and innovation for our clients. Whether you are a startup with a bold idea or a mature company facing disruption or a major challenge, our team is eager to help.
Our team is made up of experienced management consultants, strategists, IT professionals, efficiency experts, industry experts and business professionals, many of whom previously held CTO, CFO, CEO or CIO roles in large businesses. Together with our sister company at Barrington Consulting, we have an unparalleled track record of success. From Ideation to Realization, our team will help you achieve your goals quickly and with tremendous success.
About FutureWELL
Through FutureWELL and Authen™ we are empowering consumers by pulling back the curtain of the global food supply chain – transparent, authentic data of the ingredients and products they purchase. Knowledge is power and we are providing that power. We are not only changing purchasing habits, but we are also revolutionizing consumer lifestyles through information and the resulting power of choice. Which will lead to healthier farming, healthier food, healthier people, and a healthier tomorrow for everyone.
Contacts:
Dennis Young, Managing Director, Barrington Edge
dyoung@barringtonedge.com
Trent Coghill, President, FutureWELL Business Solutions
trent@futurewell.com