Walmart China has announced it is launching the Walmart China Blockchain Traceability Platform. The platform has been built on the VeChainThor Blockchain in partnership with PwC, VeChain and others.
The first products have already started finding their way to the platform. As of now, there are 23 product lines on the blockchain, with another 100 to be added by the end of the year. Groceries ranging from fresh meat, to rice, to mushrooms have been added.
Shoppers will be able to access information about the products they’re buying, including their origin, logistics process, and product inspection record.
“Walmart has 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.”
By the end of 2020, Walmart is predicting that half of the packaged fresh meat sold will be traced on the blockchain. Meanwhile, traceable vegetables will constitute 40 per cent of the total sales of packaged vegetables.