Thursday, 17 October 2019

Walmart China launches blockchain system for food safety

Food retailer says half of its fresh meat products will be tracked on blockchain platform by 2020

Walmart China and PwC have joined forces with VeChain to create a blockchain platform that tracks the quality and safety of products and agricultural produce through the food retailer’s supply chain.

The system, descriptively named “The Walmart China Blockchain Traceability Platform,” was introduced yesterday at an event organised by Walmart China and China Chain Store & Franchise Association (CCFA).

The food retailer said 23 product lines have been tested and launched on the platform, including fresh meat products, and that they plan to use the platform to account for half of all fresh meat that travels through its supply chain by 2020’s end. In total, 100 product lines will be covered on the platform by the end of the year.

Walmart China said food traceability was an opportunity for suppliers to gain a competitive edge:

“Domestic customers are proposing higher demands on food safety, digitalization of food traceability will help suppliers to increase their brand value and win their consumers’ trust,” the retailer said.

The platform is built on VeChainThor Blockchain, a framework created by VeChain, an organisation attempting to accelerate real-world use cases of blockchain technology.

The system will collect data including geolocation, logistics processes and product inspection reports. VeChain plans to add multilateral cooperation to the platform, synchronising data from local governments’ traceability platforms and suppliers’ own platforms, the company said.

“The launch of the Blockchain Traceability Platform by Walmart China, the world-class retail giant, is of great significance to the commercial application of blockchain technology,” said Kevin Feng, COO of VeChain.

“VeChain will work with Walmart China to actively take heed of the call of the government, by utilizing technology to promote the traceability of fresh food, and to provide innovative solutions for the traceability platform through digital technology, so as to generate more transparent and reassuring consumption experience,” he added.




source: techerati.com
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