The US retail giant Walmart is in the blockchain news today for an innovation that allows it to track its shrimp supply chain. We are obviously talking about blockchain, which is the technology that enables Walmart and IBM to track the shrimps and how they are processed to select locations.
As reports in the Indian business publication LiveMint showed this October 4, Walmart will use blockchain technology to track its Indian-sourced shrimp to select locations of Sam’s Club retail stores in the US.
This, as the crypto news show, is the first time that blockchain technology is used to track shrimp exports from the Indian farmer to an overseas retailer. The US retail giant is truly innovating the space, and the president of the National Fisheries Institute John Connelly said:
“As one of the most traded commodities in the world, seafood has a complex and wide-reaching supply chain, which makes testing and further developing technology-assisted traceability programs an important step. It is encouraging to see a retail leader like Walmart participate in seafood blockchain testing.”
We can see that the retail giant Walmart worked with the Indian seafood processor Sandhya Aqua to add the shrimp supply chain to the blockchain-enabled IBM Food Trust platform, so that the customers can track where their shrimp comes from.
Meanwhile, Shrimp is India’s largest agricultural export – and the US is actively consuming 46% of that market and the shrimp exports. LiveMint also reported that the application of blockchain will help Indian shrimp farmers to meet strict US food standards.
The US retail giant Walmart has previously applied blockchain technology in many of its fields. As the news showed, distributed ledger technologies like blockchain make it easier for the firm to track its massive supply chains and recall problematic food items (or medicine) if there is need for that.
Aside from the US retail giant adopting blockchain for its shrimp supply chains, in September a group of global coffee companies have partnered with a tech startup – to use the IBM Food Trust platform and apply blockchain to coffee supply chain tracking. This was another major innovation and an attempt to build the “Thank My Farmer” app which provides consumers with data about coffee products, such as its origin and pricing.
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