- Walmart leads the food industry with blockchain for transparent and safe supply chains.
- Innovative partnerships propel Walmart’s global blockchain impact on food traceability.
- VeChain revolutionizes Walmart’s supply chain, setting new standards for transparency.
In a groundbreaking move, Walmart has emerged as a trailblazer in the integration of blockchain technology with VeChain to revolutionize supply chain management, particularly in the food industry. Spearheading this initiative is Walmart’s commitment to enhancing traceability, transparency, and safety in its vast supply network.
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— Collin Brown (@CollinBrownXRP) December 7, 2023
Walmart’s foray into blockchain began in 2016 when the retail giant faced the challenge of tracing a package of sliced mangoes back to its source, a process that initially took nearly a week. Partnering with IBM, Walmart introduced a blockchain-based food traceability system, reducing the tracing time to a mere 2.2 seconds.
This technological breakthrough laid the foundation for enhanced traceability and transparency, with notable success stories in China’s pork industry and various products in the U.S. The establishment of the Walmart Food Safety and Collaboration Center underscored the company’s commitment to global food safety, leveraging AI and big data technologies.
Collaborations with JD, IBM, and Tsinghua University in 2016 aimed at improving food safety in China resulted in the creation of a blockchain ledger for pork supply chain traceability. Walmart’s initiatives were pivotal in advancing food traceability and safety, setting the stage for broader applications in supply chain management.
By 2018, Walmart successfully traced over 25 different products, including mangoes, leafy greens, and dairy products, directly back to their farms. The Blockchain-Enabled Walmart Food Traceability Initiative mandated suppliers to trace their products back to the farms in seconds, utilizing the IBM Food Trust network.
Walmart’s strategic partnerships extended globally, with the launch of the Walmart China Blockchain Traceability Platform in collaboration with VeChain. This platform included 23 product lines, showcasing the company’s commitment to innovation.
The retail giant further cemented its pioneering role by piloting blockchain technology for shrimp traceability, tracking exports from India to the U.S. for the first time in the industry.
Looking ahead, the innovative use of blockchain technology holds immense promise for addressing food safety concerns, managing recalls efficiently, and reducing food waste. By providing granular information about food items, Walmart’s blockchain initiatives are poised to shape the future of food traceability and safety, setting a new standard in the retail industry.
