At a seminar for product safety and traceability in China, Walmart announced its Blockchain Traceability Platform built on the VeChainThor Blockchain. According to a report by Thai PR, the seminar was co-organized in Beijing by Walmart China and the China Chain-Store & Franchise Association (CCFA).
The report stated that the first batch of 23 product lines has been approved and launched on the food safety and traceability platform. Another 100 product lines are expected to be included by the end of the year. By the end of 2020, Walmart aims to have 50% of its packaged fresh meat, 40% of its packaged vegetables, and 12.5% of all seafood sales traceable via the platform.
Through VeChain’s collaboration, Walmart China can now implement a blockchain-based traceability platform for products sold in Walmart stores.
By scanning products with the application installed on a mobile device, Walmart China customers can access detailed information, such as the source of the tracked products and geographic location, the logistical process that took the products to the supermarket, product inspection reports, and so on.
VeChain is a pioneer of real-world applications of blockchain technology, with global operations in Singapore, Luxembourg, Tokyo, Shanghai, Paris, Hong Kong, and San Francisco.
Meanwhile, Elton Yeung, strategy and innovation lead at PwC Mainland China and Hong Kong, said it was PwC’s mission to build trust among customers and solve major problems regarding food safety.
“We believe that Walmart’s Blockchain Traceability System will be an excellent example of blockchain technology applied in the retail industry, helping to improve food safety and quality management, and providing a strong guarantee for building consumer trust,” Yeung said.
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