VeChain is giving Walmart China customers the ability to understand where and how the product they are buying is being sourced.
On June 25, a partnership with Walmart China and Vechain happened in an effort for increased traceability of products. The Walmart China Blockchain Traceability Platform, built on the VeChainThor Blockchain, was announced at the 2019 “China Products Safety Publicity Week Traceability System Construction Seminar.” Twenty-three product lines have been tested on the VechainThor blockchain and have successfully launched.
Walmart China was immensely impressed that they estimated another 100 product lines will hop on the blockchain. It will cover fresh meat product, rice, mushrooms, cooking oil, and much more. The purpose of this is to trace the sale of goods by over 50% successfully. The human error usually causes the information to be lost in translation. But the immutable of the blockchain provides critical features for the food industry.
Traceability isn’t all that the VeChain blockchain is helping with. When customers scan the desired products, they can acquire detailed information, including the source of the scanned products, geographic location, logistics process, product inspection report, and many more important points of information that isn’t available to us when we visit a grocery store or supermarket like Walmart.
The COO of VeChain, Kevin Feng, had this to say about this fantastic partnership, “The launch of the Blockchain Traceability Platform by Walmart China, the world-class retail giant, is of great significance to the commercial application of blockchain technology. VeChain will work with Walmart China to actively take heed of the call of the government, by utilizing technology to promote the traceability of fresh food, and to provide innovative solutions for the traceability platform through digital technology, to generate more transparent and reassuring consumption experience.”
This partnership comes at the right time. Why do I say that? People/customers are becoming more and more concerned about how their food is produced. The VeChain blockchain will provide details on the spot for customers to scan and find out.
To learn more about Vechain please visit https://www.vechain.com/.