Walmart Canada To Roll Out World’s Largest Blockchain For An Industrial Application

November 18, 2019 | Digital Assets, Latest News, News

Walmart Canada and blockchain company DLT Labs collaborated to develop the retail giant’s automated freight tracking and payments system.

The new blockchain-based logistics system will use distributed ledger technology. It will track deliveries, verify transactions, and automate payments and reconciliation for the vast logistics of Walmart Canada.

Walmart Canada networks with 70 third party trucking companies, 4500 associates, and drivers. It manages over 500,000 loads of inventory moving coast to coast across Canada. Moreover, the retailer operates 8.75 million square feet of distribution center and moves more than 853 million cases of merchandise annually.

Therefore, automating this data collection and management via the blockchain will generate significant cost savings. Further, the network can be integrated with the concerned business or operator’s legacy system. This obviates the need for new investment or retraining.

Logistics via blockchain: Transparency and efficiency

“Blockchain is enabling a material advance in our smart transportation network, with expedited payments, extensive cost savings, and other benefits among our supply chain,” said John Bayliss, Walmart. It will reduce Walmart’s environmental footprint and continue its leadership in environmental sustainability.

Moreover, the interactive blockchain technology platform provides full transparency between Walmart Canada and its carriers.

“This project is a new paradigm that will greatly improve workflows, reduce paperwork, and make the business we do with Walmart more efficient,” said Bison Transport, the carrier participating in the project pilot.

“This proves the high value of blockchain and sets the stage to revolutionize supply chain management and logistics,” said DLT Labs. Additionally, it enables secure information sharing, manages trust and reduces waste in multi-partner operational processes.

Across the pond: Foodgates

Meanwhile, VeChain announced last week an initiative to enable food tracking via a cross-continental blockchain logistics solution. Powered by the VeChain Thor public blockchain, in partnership with DNV GL, FoodGates will track through a supply chain journey. It will cover the full life cycle of beef production, from cow selection, to slaughter, to packing, shipping, and eventually to the restaurant.

[Related Story: Ant Financial to Develop Blockchain Based Agro-Monitoring Product With Bayer  ]


Free Industry News

Subscribe to our free newsletter for updates and news about alternatives investments.

  • This field is for validation purposes and should be left unchanged.


Latest Alternative Investment News
Digital Assets: Grayscale Protests SEC Rejection Of Spot Bitcoin ETF, Files Suit Against Regulator
June 30, 2022     Digital Assets, Latest News, News, Regulations

Grayscale Investments, the largest digital asset manager globally, has filed a suit against the SEC for rejecting its application to convert the Grayscale Bitcoin Trust into a spot bitcoin ETF….
Venture Capital/ESG: Twelve Raises $130M For World’s First Carbon Transformation Platform

Twelve has raised a $130 million Series B round to scale up its carbon transformation technology that converts captured CO2 into products traditionally made from fossil fuels. The firm’s technology…
FinTech: Sam Bankman-Fried Of FTX Rejects Rumors He Is Acquiring Robinhood
June 30, 2022     Digital Assets, FinTech, News

FTX, the crypto platform owned by billionaire Sam Bankman-Fried, has scotched media reports that it was pursuing a deal to acquire commission-free trading app Robinhood (NASDAQ: HOOD). Bloomberg said Monday…
Alternative Investments/Digital: Amidst A Crypto Winter, 21Shares Launches The World’s Cheapest Physically Backed Bitcoin ETP

21Shares AG has launched a bitcoin ETP tailor-made for today’s crypto market, one that has been mauled by rampaging bears and gripped by a “crypto winter.” The 21Shares Bitcoin Core…