Blockchain is no more a new technology. It has been in use for over a decade now. However, new real use cases appear on a regular basis with governments and corporations finding new ways to use the technology.
The latest to join the list is Walmart, which intends to use the blockchain technology to improve food safety.
How It’s Gonna Work
Walmart recently made it mandatory for all suppliers of fresh produces to give end-to-end traceability to its local food supply chain by installing IBM enterprise blockchain.
According to the report, “the information gathered by these suppliers will be open and accessible through technology that offers real-time, end-to-end traceability from farm to table. Blockchain allows for digitized sharing of data in a secure and trusted way.”
The company has given suppliers twelve months to install the new system. This is enough time for suppliers to get used to the blockchain network, which will provide the company with real-time details about fresh vegetables, all the way from the farm to retail outlets. This is quite similar to how Accenture plans to use blockchain to trace goods.
What It Means for the Industry
Experts believe the move will have a considerable impact on the industry, especially since Walmart enjoys a huge chunk of the market that’s now worth $1.5 trillion USF.
This may push other companies, such as Amazon, to change their policies and meet the new standards set by Walmart.
Consumers are conscious about what they eat. They don’t want to consume food that’s not fresh. Today’s consumers are very health conscious, and about 29% of them want to consume only organic foods, according to this survey.
The same survey also concluded that 61% of consumers want to consume fresh foods and about 41% believe that frozen food is not as healthy as fresh food.
The Company Is Working Harder
Walmart also started recently started a new initiative called the Food Traceability Initiative, which is designed to reduce food-related illnesses. This program will not only make food safe but also help the company save money by reducing issues related to the supply chain.
The company announced:
“Using the IBM Food Trust network that relies on blockchain technology, we have shown that we can reduce the amount of time it takes to track a food item from a Walmart Store back to [the] source in seconds, as compared to days or sometimes weeks.”
Walmart appears to be very serious in becoming the market leader. With this big move, it has taken a massive leap in the right direction, and many more may now follow.
Hello, yes this article is really nice and I have learned lot of things from it concerning blogging. thanks.|
Thanks for another excellent post. Where else may anybody get that kind of info in such a perfect method of writing? I’ve a presentation subsequent week, and I’m on the look for such information.
Nearly all of the things you say happens to be astonishingly legitimate and it makes me ponder the reason why I had not looked at this with this light before. This particular piece truly did switch the light on for me personally as far as this subject matter goes. However at this time there is one position I am not necessarily too comfy with so whilst I try to reconcile that with the actual main theme of your position, permit me observe what the rest of the visitors have to point out.Very well done.
Very interesting information!Perfect just what I was searching for! “Neurotics build castles in the air, psychotics live in them. My mother cleans them.” by Rita Rudner.
You really make it appear so easy along with your presentation but I to find this matter to be actually something that I feel I would never understand. It sort of feels too complex and very broad for me. I am having a look ahead on your next put up, I will try to get the hang of it!
ivermectin 3 mg tabs buy prednisone paypal oral prednisone 40mg
Enjoyed looking through this, very good stuff, regards. “While thou livest keep a good tongue in thy head.” by William Shakespeare.
lasix us vibra-tabs cheap albuterol medication
I truly appreciate this article.Really looking forward to read more. Will read on…
I simply could not depart your site prior to suggesting that I really loved the usual information a person provide to your guests? Is going to be again ceaselessly to check out new posts