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Walmart Turns to Blockchain Technology to Solve Food Safety Concerns

  by David Drake   Earlier this year, Walmart announced plans to use blockchain technology in its supply chain management system. This followed successful piloting of its blockchain-based supply chain system that developed in partnership with the International Business Machines IBM) corporation. Through an open letter to fresh leafy greens suppliers, Walmart is set to roll out its blockchain-based supply chain management system in the market. Across the globe, blockchain continues to gain traction as a technology that has capabilities to solve a myriad of problems. In the marketing space, Noiz Chain is using the technology to power interactive marketing while Epic Mega is using the technology to develop and share entertainment content. Food Safety In an action referred to as ‘Walmart Food Traceability Initiative’, all suppliers of fresh leafy greens will be required to integrate their two-phase systems to the blockchain based system by September 2019. The first phase ... Read More »

Walmart to Lower Food Contamination Using Blockchain in 2019

  by David Drake    Blockchain has gained traction as a technology for powering the financial sector in recent years. But this is changing fast. Just recently, Walmart, a mega retailer in the US said it will deploy blockchain technology in its logistics department as early as next year. The retailer will use blockchain to track suppliers’ movement of vegetables in a bid to contain contamination. Blockchain has received a warm reception from both large and medium sized financial institution. However, the technology is increasingly becoming popular in startup companies such as Epic Mega and Noiz Chain that are using it to power entertainment content and marketing solutions respectively. This makes sense considering that the technology was originally designed to aid in tracing cryptocurrencies for transparency purposes. To do this, blockchain utilizes Distributed Ledger Technology (DLT) that makes it hard for bad actors to commit fraud. Beyond Fintech Last month, ... Read More »

Why Blockchain Adoption in Logistics will Happen Faster than in Fintech

  by David Drake     Over the years, the application of blockchain has largely been associated with the financial sector. This is perhaps because of its ability to enhance transparency in financial transactions and reduce the cost of transferring funds. But this is now changing as companies develop blockchain-based solutions across sectors. Great examples of innovative solutions powered by blockchain include Noiz Chain and Epic Mega in marketing and entertainment content, respectively. But the largest application of blockchain outside the fintech sector is happening at Walmart. Earlier this year, this US-based mega retailer made public its plans to utilize blockchain technology to enhance transparency in its food business, improve its contamination management and reduce wastage. Last month, the retailer made its plans definite. Media reports now show that Walmart has everything set to begin rolling out blockchain-based supplier management in 2019. The retailer says that starting next year, its leafy ... Read More »

Why VCs are gearing towards online investing

Why VCs are gearing towards online investing

The rewards of a prosperous investment can be easily spoiled by a number of factors. So, prior to funding a certain project, venture capitalists spend a certain amount of time appraising the available proposals, as well as looking for key ingredient for success. They consider several decisive agents, such as management, the size of the market and whether the product has what it takes to make money.  Furthermore, they look for opportunities with the lowest risk factors. The way that VCs measure, evaluate and try to minimize risk can vary depending on the type of fund and those making the investment decisions. Their goal is to tone down the risk while reaping in big returns. This is where online investing platforms come and lend a hand. What these platforms do is facilitate investments and assist in the funding process with transparency and ease. Even though equity crowdfunding platforms such as ... Read More »

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