Walmart China Will Track Food in Supply Chain with Vechain’s Thor Blockchain
Adrian Zmudzinski's original article for cointelegraph.com reduced by 54%
Walmart China plans to track food through its supply chain with VeChain's Thor blockchain, reveals a VeChain press release published on June 25. Per the release, the Walmart China Blockchain Traceability Platform will be a joint venture by Walmart China, VeChain, PricewaterhouseCoopers, cattle company Inner Mongolia Kerchin, and the China Chain-Store & Franchise Association. WCBTP has been reportedly announced at the 2019 China Products Safety Publicity Week Traceability System Construction Seminar jointly organized by Walmart China and the CCFA in Beijing.
Walmart China already revealed 23 product lines that the system will track and plans to release another 100 products for further inclusion, covering more than 10 product categories. "It is expected that the Walmart China's traceability system will see 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, traceable seafood will account for 12.5% of the total sales of seafood by the end of 2020.". VeChain is among the companies on the list of the first 197 companies that China's cyberspace administration authorized as registered blockchain service providers, released in April.
Walmart has engaged in several DLT-related patents and trials - e.g., tracking meat in China, delivery drones, live food and patenting smart deliveries in the United States.
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