• Walmart is using VeChain’s blockchain technology in China to enable customers to trace the origin of grocery items in its shops.
• The platform has so far benefited both Walmart and VeChain, with customers using it daily to scan products for origin and other information.
• The head of supply chain twin transition department at classification body DNV, Michele M., highlights that wider blockchain adoption could potentially reduce cases of food-borne illnesses globally.
Walmart, the American multinational retail corporation, has been in partnership with VeChain blockchain since 2019. The two have formed a strategic alliance to benefit the multi-billion-dollar food industry in China. The partnership has already seen Walmart build a blockchain-based platform to enable customers to trace the origin of grocery items in its shops, and it appears that both parties are reaping the rewards of the alliance.
Customers of Walmart can now scan products to get details of their origin and other information. This has enabled Walmart to provide its customers with a more transparent shopping experience. The use of the blockchain platform is becoming more common, with customers using it daily. Michele M., the head of supply chain twin transition department at classification body DNV, has highlighted the benefits of the Walmart-VeChain partnership. He has said that wider adoption of blockchain technology could potentially reduce cases of food-borne illnesses globally.
The World Bank has reported 600 million cases of food-borne illnesses in the past year, making it a major global issue to be addressed. By incorporating VeChain’s blockchain technology into Walmart’s supply chain in China, customers can now trace the origin of their groceries, which could potentially lead to a reduction in food-borne illnesses.
Overall, the partnership between Walmart and VeChain is proving to be a success, with both parties benefitting from the alliance. Customers of Walmart now have a more transparent shopping experience, with the ability to scan products for origin and other information. Furthermore, the use of blockchain technology could potentially reduce cases of food-borne illnesses globally. It will be interesting to see how the partnership continues to develop and what other benefits it will bring to Walmart and VeChain.