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Walmart’s Foray Into Blockchain, How Is the Technology Used?

Published 09/03/2019, 11:17 AM
Updated 09/03/2019, 11:41 AM
Walmart’s Foray Into Blockchain, How Is the Technology Used?

Walmart (NYSE:WMT) is currently making use of blockchain technology to create a food traceability system based on the Linux Foundation’s Hyperledger Fabric. Along with IBM (NYSE:IBM), the retail giant has already tested two proof-of-concept projects to examine its envisioned system.

The first project deals actively with tracing the origins of the mangoes being sold across Walmart’s stores in the United States, while the other seeks to trace the pork meat being sold via the company’s different Chinese outlets. From an efficiency perspective, the research team at Walmart claims that by making use of this new system, the time needed to trace the firm’s provenance has dropped from seven days to just 2.2 seconds.

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