Walmart Blockchain Pilot Aims to Make China's Massive Pork Market Safer
Walmart has developed a blockchain pilot focused on China's massive pork industry supply chain. Built in collaboration with IBM and Beijing's Tsinghua University, the pilot is part of two separate, but parallel pushes by Walmart and the Chinese government to make supply chain data more accurate, and therefore safer. IBM's head of global supply chain solutions, Paul Chang, explained that the pilot, if implemented, could also give Walmart a bigger slice of China's lucrative pork industry. Chang told CoinDesk: "It's not just important for China, but for Walmart to really succeed in China. It....
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Trying to make pork products in China safer was just the first step of Walmart’s global plans for blockchain. The pilot unveiled last week uses technology from the Hyperledger project to track pork shipping information, including farm origination details, batch numbers and storage temperatures on a secure blockchain. Over the months ahead, the retail giant wants to expand on that work. Walmart vice president of global food safety Frank Yiannas told CoinDesk that, in anticipation of a successful pilot launch, the company is already looking to the future for other applications. Yiannas told....
Retail giant Walmart and multinational technology company, IBM, have teamed up put Chinese pork on the blockchain, ensuring consumer confidence in the food industry, reports Fortune. Teaming up with Tsinghua University in Beijing, it is hoped that by digitally tracking the movement of pork in China on bitcoin’s underlying distributed ledger, it will prevent food disasters such as those that have been reported in China. According to Forbes, in 2008, a toxic mixture of milk and infant formula combined with melamine, killed six children, put thousands of others in hospital and sickened much....
Walmart has partnered with IBM and Tsinghua University to implement blockchain technology for food safety. The Chinese food industry is notorious for poor quality standards. In few instances, potentially lethal substances were used as adulterants, resulting in a number of deaths. In order to prevent such incidents in the future, strict monitoring and control over the manufacture and supply chain are very important. The leading global retailer Walmart has partnered with IBM to do just that. Both companies are working alongside Tsinghua University in Beijing to use blockchain-based solutions....
An increasing number of multi-billion dollar companies, banks, financial institutions and organizations have begun to utilize Blockchain technology to authenticate data. By doing so, new and unique implementations of Blockchain technology were introduced, including the Commonwealth Bank’s Blockchain-based shipment of cotton and Walmart’s usage of Blockchain to track the distribution of food. Walmart and China pork scandal. Retail giants like Walmart conducted trials using Blockchain technology to store shipment data and distribution information into an immutable Blockchain network. In late....
U.S. retail giant, Walmart, is about to start a major test of blockchain technology for supply chain management, The Wall Street Journal reports. A pilot project, which will start in the first quarter of 2017 and run for four months, plans to leverage distributed ledger technology to track and trace pork in China and produce in the U.S. — two high-volume product categories with large markets. This will be one of the first major tests of blockchain distributed ledgers outside the financial services industry. According to the WSJ, blockchain technology can help in overcoming delays and....