Walmart Inc., the world’s largest retail company, announced that it is ready to use Blockchain technology in its food division. Walmart Health and Food Safety vice president Frank Yiannas made this announcement at the MIT Technology Review’s Blockchain Businesses conference in Massachusetts on Monday. Yiannas said that Blockchain had reduced the product follow-up time from six days to two. Walmart suppliers reduce their risk of waste and contamination by putting their food products in Blockchain, and they also increase transparency in production.
Walmart began testing the technology with IBM
In 2016, Walmart began testing the technology with IBM, which he did by identifying and removing the recalled products on the lists. With a blockchain-based system, every piece of information about the company’s products can be accessed instantaneously and the system is protected by the centerless structure, which protects it from hacking and tampering.
In March, Walmart published an application for a patent on the ‘Smart Pack’ system. This system is designed to track package contents, environmental factors, location and many other things. According to the patent, this device is intended to be used in newer technologies such as autonomous vehicles and unmanned drones.
Using Blockchain to ensure quality control has recently become widespread among international retailers. China’s e-commerce leader JD.com is considering using Blockchain technology to control the quality and availability of the meat it sells. According to JD, customers will be able to follow the meat they buy from their farm in Australia until they reach their doors.
