This is an updating story – we will update as more info becomes available.
Tuesday, June 25th – Wal-mart China announced the creation of a Blockchain Food Safety and Traceability Platform alongside partners VeChain, PwC, China Chain Store and Franchise Association (CCFA), Kerchin, and various other food producers. Wal-Mart will use VeChain’s blockchain technology to verify products along the supply chain, increasing consumer trust. Customers will be able to scan products directly through WeChat as they browse products in stores.
This product, scannable with WeChat – gives customers vital product info
The announcement of the Walmart China Blockchain Traceability Platform came with the introduction of the first batch of 23 product lines that have been tested and launched on the Platform. The Platform is expected to scale by another 100 product lines by the end of the year covering more than 10 product categories including fresh meat product, rice, mushrooms, cooking oil, etc. It is expected that the Walmart 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.
Wal-mart hosting the announcement ceremony.
The announcement was closely followed by some very important organizations in China. The ceremony saw VeChain COO Kevin Feng sitting next to a member of the China Academy of Information and Communications Technology, an organization directly under the Ministry of Information and Industry Technology, the top bureau in charge of key technology policies in China.
“Food Safety is at Wal-Mart”
Rice tracked via VeChain
Wal-Mart VeChain, and other partners at the ceremony
Wal-Mart China has a large national chain with over 400 stores nationwide. After heavily investing in e-commerce, curbside pickup, and home delivery platforms in 2018, they are planning to open 30-40 new stores each year. Focusing on food safety is an important area in China, where the government is keen to reduce the number of scandals and become a leader in this field.
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