(BlockBar) According to a press release, under the participation of the China chain association (CCFA), PricewaterhouseCoopers(PwC), Inner Mongolia khorchin co., LTD., and VeChain, Wal-mart China starts up the traceability platform in the 2019 national symposium on food safety publicity week. The seminar was jointly organized by Wal-mart China and CCFA in Beijing.
Wal-mart China has already revealed 23 product lines that will use the system, and plans to add 100 more kinds of products in the future. The press release states that the company expects to track a significant proportion of its products. It is expected that traceable fresh meat in Wal-mart China will account for 50% of the total sales of packaged fresh meat, traceable vegetables will account for 40% of the total sales of packaged vegetables, and traceable seafood will account for 12.5% of the total sales of seafood by the end of 2020.”
VeChain is one of 197 registered blockchain service providers authorized by Chinese Cyberspace Administration in April. The blockchain technology of Vechain helps Wal-mart to implement the commodity traceability strategy, creating a large-scale application of blockchain traceability. For instance, by scanning the QR code on the product, customers can know the supply source of the product, the geographical location, logistics process time, product inspection report and other details provided by Wal-mart.
According to shi Jiaqi, chief corporate affair officer of wal-mart China, “ Wal-mart’s core value is to provide customers with reliable, high quality, good products and convenient service. From the source procurement, commodity strategy, supply chain construction, to the operation and management of stores and e-commerce platforms, Wal-mart continues to invest in all channels and chains, improving efficiency and transparency through digital methods and providing customers with valuable and high-quality goods and services
As Cointelegraph reports, Wal-mart is quiet familiar to the distributed ledger technology (DLT). As early as October 2016, the company began working with IBM to develop a blockchain-based system that can identify and label recalled foods.
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