Walmart Canada Unveils Blockchain Powered Logistics & Payment Platform November 15, 2019 November 15, 2019 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
Market NewsNovember 15, 2019 by Kelly Cromley

Walmart Canada Unveils Blockchain Powered Logistics & Payment Platform

For logistics and payment management, Canada branch of retail chain Walmart has unveiled an automated blockchain powered platform.

The latest solution, built in partnership with blockchain firm DLT labs, is created to enhance freight and payment processing, with automatic monitoring of deliveries, transaction validation, and process payments and solving issues.

The press release points out that the network can be incorporated with an existing platform of a company and “manages, integrates and synchronizes all the supply chain and logistics data in real time, aggregating the data between Walmart Canada and its fleet of third-party trucks on a shared ledger.”

John Bayliss, senior vice-president of logistics and supply chain at Walmart Canada, highlighted the capability of blockchain technology in processing huge inventory:

“This new dynamic and interactive blockchain technology platform is creating complete transparency between Walmart Canada and all of our carrier partners. Blockchain is enabling a material advance in our smart transportation network, with expedited payments, extensive cost savings and other benefits among our supply chain. Moreover, this degree of improved efficiency represents a powerful platform for us to continue to reduce our environmental footprint and continue our leadership in environmental sustainability.”

Walmart has taken a positive active approach with regards to the deployment of blockchain in its in-house procedures. Of late, the enterprise stated that it would utilize blockchain technology to monitor shrimp sourced from India to predetermined Sam’s Club retail store branches in the US.

Back in August, Walmart applied for a patent to a drone interaction system based on blockchain technology. Basically, the vehicle-to-vehicle interaction platform between mechanized drones would transmit messages and facilitate the drones to be conscious of other’s position.

Nevertheless, some have pointed out that the biggest issue faced by blockchain systems deployed by retail giants such as Nestlé and Walmart has got nothing to do with the technology.

Craig Heraghty, agriculture business chief at PwC, stressed that blockchain offers an “illusion of traceability” to supermarket chains and shoppers for the simple reason that the physical points of data entry is not fool proof even though the data cannot be tampered.

AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.