Walmart to use blockchain technology to track international food supply chain
Walmart to use blockchain technology to track international food supply chain
Multinational retailer Walmart has announced a collaboration with IBM and Tsinghua University aimed at using blockchain technology to enhance the methods by which food is tracked, sold and transported to consumers throughout China. If successful, the technology could be applied elsewhere in the global food supply chain.
Supply chain tracking and food authentication are vital steps in the process of finding and addressing possible sources of contamination in the worldwide food supply chain. Blockchain technology can be used to create a permanent record of transactions and group these transactions into unchangeable blocks. This provides an alternative to the traditional manual inspection systems and paper tracking that can leave supply chains at risk for errors and inaccuracies.
The technology can also be used to track products throughout the supply chain, from suppliers to store shelves to consumers. Important product information, such as producer origination details, factory and processing data, batch numbers, storage temperatures, expiration dates and shipping details, can be digitally connected to food items. This information is stored in the blockchain throughout every step of the supply chain process.
All of the relevant members of the supply chain are able to agree on the information included in each blockchain transaction, and following this, a permanent record that cannot be altered is created. This provides a series of important data points that can be referred to in the case of food safety or other issues.
Bridget van Kralingen, Senior Vice President of Industry Platforms at IBM, said: “Advanced technology has reached into so many aspects of modern life, but it has lagged in food traceability, and in particular, in creating more secure food supply chains. Our collaboration with Walmart and Tsinghua University is a step of global significance to change that. Food touches all of us, everywhere, so we are experimenting in China with Walmart and Tsinghua given the size and scale of food consumption in this country.”