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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 »

Can Blockchain Transform the Logistics Industry Beyond Fintech?

  By David Drake   Blockchain adoption has often been associated with fintech more than any other industry. However, there has been an increased interest with industries in different sectors seeking to  incorporate the technology blockchain in their operations. From manufacturing, real estate, legal to marketing and entertainment, companies like Noiz Chain, Epic Mega and LiveTradr are looking for ways to incorporate blockchain in their dealings. Blockchain has paved way for other industries to grow. Beyond fintech, an industry that has demonstrated potential in blockchain adoption is logistics according to John Hoelzer, founder and CEO of ONe Network. He says, “Fintech has been the Soup of the Day for quite some time, as it should have been. But now Blockchain is becoming more and more mature and understood. This allows for different markets to find new ways of using Distributed Ledger Tech to better their own industries. Logistics will be one of the many different industries ... Read More »

How Amazon and Walmart will Spearhead Blockchain Revolution

by David Drake The popularity of blockchain is growing rapidly across sectors. In the process, this growth is creating numerous investment opportunities for entrepreneurs and investors alike. Recently, we have witnessed several corporates integrate blockchain and cryptocurrency into their business models. Today, initial coin offerings (ICOs) have become a preferred way of raising capital compared to one year ago. Going mainstream The decision by Amazon and Walmart to integrate blockchain technology into their businesses is a big boost for the cryptocurrency industry. It is no doubt a vote of confidence that blockchain and cryptocurrencies are legitimate and a worthy investment according to Massimiliano Rijllo, CEO of Coinnect. He says, “Walmart and Amazon moves are strong endorsements for blockchain and a clear sign that we will soon see many real applications for business. Until now, most efforts were concentrated on the development of “Protocol” and “Networking” layers with many interesting projects basically ... Read More »

Amazon-Walmart Developments: Are we Likely to Experience a Blockchain Revolution?

by David Drake Blockchain, the technology behind cryptocurrencies, has been hailed for its ability to increase efficiency in businesses. Recently, Walmart announced plans to use the technology after successfully piloting it in partnership with International Business Machines (IBM) corporation. According to Frank Yiannas, Walmart’s Vice President of Food Safety and Health, blockchain application reduced the time taken to track food from six days to two seconds. This increased efficiency will help Walmart’s supply chain by increasing transparency, reducing contamination and food wastage. But it is not just Walmart that is keen on utilizing blockchain. e-Commerce giant, Amazon has moved to launch AWS blockchain templates that give users pre-set frameworks, enabling them to create projects for their businesses with each. Positive Effect According to Luis Manuel Lopez, the General Coordinator at Workchain Centers, blockchain initiatives by Walmart and Amazon will affect the industry positively. He says, “Having started in a pure and ... Read More »

Why Corporate Adoption of Blockchain is Not Entirely New, but Largely Anticipated

by David Drake  The number of corporates that are integrating blockchain technology in their business system has been on the rise lately. Just last month, Walmart, one of the largest retail stores in the US, is now using blockchain to manage its food business. The company is now adding food suppliers on its blockchain-powered system to cut down on waste, increase transparency and better manage contamination. But Walmart isn’t the only corporate that is leveraging the power of blockchain. After making its intention to utilize blockchain public , the e-Commerce giant, Amazon, did not want to get left behind. Through its Amazon Web Services (AWS) platform, the company launched blockchain templates that offer users an easy and fast way to develop and rollout secure blockchain-based networks. The templates can only run on Hyperledger Fabric and Ethereum platforms. Not entirely new Though some players within the cryptocurrency space find the moves ... Read More »

How Amazon is Making Blockchain Technology Accessible to Customers

by David Drake The initial idea behind the development of blockchain technology was to give Bitcoin an accounting backbone for its transactions.  Through the use of distributed ledgers, it was anticipated that cryptocurrency platforms will be able to process digital transaction with the utmost security, free from a centralized financial system. However, with time, this technology has proven applicability in various business management aspects of business management such as record keeping, financial services, supply chain management, among other functions. Despite the phenomenal growth of cryptocurrency and its underlying technology, industry players feel there is still more potential to be exploited. Many businesses are realizing this and are tapping the technology. Walmart is one such business. The US-based world leading discount retailer is set to integrate blockchain technology into its supply chain management system in its live food business with the aim of reducing wastage, contamination and enhancing transparency. Sharing Economy ... Read More »

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