The grocery sector is responsible for nearly half of all distributed ledger technology supply chain projects, according to research conducted by the University College London on behalf of the Retail Blockchain Consortium (RBC).
Over 100 projects were analysed including startups, corporates, consortia and government that are implementing various aspects of DLT in the applications areas of tracing (provenance), logistics, financial transactions, retail operations and circular economy.
Further info here.
Walmart leads the way
In June, we reported that Walmart China was tracking food through its supply chain with VeChain’s Thor blockchain.
The Walmart China Blockchain Traceability Platform is a joint venture between Walmart China, China Chain-Store & Franchise Association (CCFA), PwC, Inner Mongolia Kerchin Co. and VeChain. The first batch of 23 product lines have been tested and launched on the platform and another 100 are set to follow by the end of the year, covering more than 10 categories including fresh meat product, rice, mushrooms and cooking oil.
The aim is for traceable fresh meat to account for 50% of the total sales of packaged fresh meat, traceable vegetables to account for 40% of the total sales of packaged vegetables, and traceable seafood for 12.5% of the total sales of seafood by the end of 2020.
“We have always worked to provide reliable products of quality and convenient services to customers, which is our core value proposition,” said Shi Jiaqi, Chief Corporate Affairs Officer of Walmart China.
“With this target in mind, Walmart has continuously invested in the whole supply chain, from source procurement and commodity strategy, supply chain construction, to store and e-commerce platform operation management. We use digital methods to improve efficiency and transparency, providing products and services of quality to customers and making life better for busy families in China.”
Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.