Walmart China has rolled out its Blockchain Traceability Platform, built on the VeChainThor Blockchain, with an initial batch of 23 product lines tested.
The Platform is expected to scale by another 100 product lines by the end of the year covering more than 10 product categories including fresh meat product, rice, mushrooms, cooking oil, etc.
With the traceability system, Walmart China expects that by the end of 2020, traceable fresh meat account for 50% of the total sales of packaged fresh meat, traceable vegetables will account for 40% of the total sales of packaged vegetables, and traceable seafood will account for 12.5% of the total sales of seafood.
VeChain’s blockchain technology is enabling Walmart China to implement a traceability strategy for products and pioneer the large-scale application of blockchain traceability.
By scanning the desired products, customers can acquire detailed information, including the source of the scanned products and geographic location received by Walmart, logistics process, product inspection report, and many more data points. Data collection and data availability are to be continually added to the scale of the platform and its use of blockchain technology.
“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,” said Shi Jiaqi, chief corporate affairs officer of Walmart China.
“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,” said Shi.
In the future, the Walmart China Traceability Platform shall adopt multilateral cooperation, synchronising data from local governments’ traceability platforms and suppliers’ own platforms, so as to provide customers with safe and high-quality products, all on the VeChainThor Blockchain.
