The first quarter of 2018 may not have been good for cryptocurrencies, however, it has been rather great time for Blockchain Technology and its application. The worldwide adoption of blockchain across the globe, for that matter, now even outside the globe ever since NASA announced to use Blockchain Technology for its space research, Blockchain is jumping leaps and bounds.
Currently, Blockchain adoption is in the news again. Walmart is planning to replace its conventional retail methodologies by Blockchain technology.
Walmart Inc. is getting suppliers to put food on the blockchain to help reduce waste, better manage contamination cases and improve transparency.
The retailer, which started running tests with International Business Machines Corp.’s (IBM) blockchain platform in 2016, is ready to use the technology on its live food business, according to Frank Yiannas, vice president of food safety and health.
Yiannas spoke Monday at the MIT Technology Review’s Business of Blockchain conference in Cambridge, Massachusetts and emphasized that Blockchain technology was able to shorten the time it took to track produce from six days to two seconds.
In March, Walmart had filed for a blockchain patent on its “Smart Package” system. The said system would include a device which would record information on a blockchain regarding the contents of the package, its environmental conditions, its location and more.
It also suggests that its smart package could be used in tandem with other emerging technologies including “autonomous vehicles” such as drones.
Using Blockchain technology for quality assurance purposes has been a popular trend among international retailers. However, the adoption of Blockchain may never saturate as new things come up in the market everyday.
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