Walmart China, PwC, Inner Mongolia Kerchin, VeChain and the China Chain-Store & Franchise Association (CCFA) have announced the launch of the Walmart China Blockchain Traceability platform.
The first batch of 23 product lines has been tested and launched on the platform, which was built on the VeChainThor Blockchain.
Another 100 product lines, covering more than ten product categories such as fresh meat product, rice, mushrooms and cooking oil are expected to be added to the platform by the end of the year.
Walmart China’s traceability system is expected to see traceable fresh meat account for 50% of the sales of packaged fresh meat, traceable vegetables represent 40% of the sales of packaged vegetables, and traceable seafood will account 12.5% of the total sales of seafood by the end of 2020.
Walmart China said that VeChain’s blockchain technology is enabling the company to implement a traceability strategy for products and initiate the large-scale application of blockchain traceability.
Customers can scan the desired products to acquire detailed information, including the source of the products and geographic location received by Walmart, logistics process, product inspection reports, and several additional data points.
Data collection and availability will be continually added to the scale of the platform and its use of blockchain technology.
Giving priority to products of high-concern and high-risk, Walmart China has pioneered the large-scale application of traceability platform based on the VeChainThor Blockchain.
Walmart China will use the platform to grow in scope, accounted scales and geographic implementation.
The company has built the proprietary food safety traceability platform on the VeChainThor Blockchain through the technical support of PwC and VeChain.
Besides sharing their portion of data, participants in the supply chain will also be able to promote the visibility and management efficiency of the chain by using the decentralised and tamper-proof blockchain technology.
The platform is expected to increase the transparency of product information, ensure the authenticity of product data, and boost the trust of consumers.
The Walmart China Traceability Platform will also synchronise data from local governments’ traceability platforms and suppliers’ platforms to provide safe and high-quality products on the VeChainThor Blockchain.