Retail giant Target has quietly worked on a blockchain-based project for better supply management named the ConsenSource. We found out about it in our coming altcoin news and now we will read more about the project.
Most recently, Target cooperated with the Hyperledger Grid project which is a supply chain framework also used by the food giant Cargill which is one of Target’s suppliers along with the tech giant Intel and Bitwise.io. In order to boost the distributed ledger technology work, Target will implement blockchain engineers and system developers that will work on the project and the company’s career page.
The new engineer will contribute to the open-source ConsenSource and to the Hyperledger Grid by developing a ‘’ distributed ledger system, protocol, smart contracts, CLI’s and RESTful APIs in an open source environment’’ according to the job posting. The vice president of architecture for the Retail giant Target Joel Crabb noted:
“I’m proud that Target will support the Hyperledger Grid project, and that we’re committing dedicated engineering resources to build out components in the Grid architecture.’’
The ConsenSource project was mainly focused on the certification of suppliers for the company’s own paper manufacturing since the retail giant has been working with the forest managers directly in order to learn about the technology and figure out what data can be shared on the distributed ledger. Crabb also explained:
“Many companies – including Target – see the most potential for enterprise blockchain initiatives as open source. Open-source projects require all participating parties to define the governance model collectively from the outset, so companies then can focus their time working on blockchain-based solutions that will lead to greater speed, transparency and cost savings.”
Target has flown under the radar regarding the blockchain initiatives. The company has previously hired Aarthi Srinivasan who was a big shot at JPMorgan and IBM. Later in 2018 as reported in the latest cryptocurrency news, Target had been working on the supply chain product under the open-source consortium Hyperledger since then. Emily Fisher who is a spokesperson for the Linux Foundation also working with the Hyperledger team stated:
“Target has made code contributions but is not a member of Hyperledger.”
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Stefan has been writing articles for DCForecasts since 2016 in-house full time. As one of our main cryptocurrency writers, he focuses on covering the latest cryptocurrency news, technical charts, price analyses of coins and press releases. When he is not exploring and covering the latest topics in crypto, you can find Stefan playing basketball, tennis or cycling.
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