Walmart Canada rolls out an automated blockchain-based supply chain management for freight tracking and payment management.
According to a Nov. 14 press release the new system is developed in collaboration with DLT Labs, a freight and payment processing blockchain company that enables users for automatic trace deliveries, verify transactions and handle payments and reconciliation.
Today we announce our launch of the first industrial use of #enterprise #blockchain – a mission-critical freight and payment network designed and built with @WalmartCanada for their carriers of more than 500,000 deliveries of inventory across Canada.https://t.co/aDWhDImNyx — DLT Labs (@DLTLabs) November 14, 2019
Walmart and DLT Lab’s Integration With Each Company’s Legacy System
The announcement further stated that the network can be integrated with a business legacy system and “manages, integrates and synchronizes all the supply chain and logistics data in real time, aggregating the data between Walmart Canada and its fleet of third-party trucks on a shared ledger.”
John Bayliss, senior vice-president of logistics and supply chain at Walmart Canada, noted the efficiency of blockchain technology when handling massive loads of inventory:
“This new dynamic and interactive blockchain technology platform is creating complete transparency between Walmart Canada and all of our carrier partners. Blockchain is enabling a material advance in our smart transportation network, with expedited payments, extensive cost savings and other benefits among our supply chain. Moreover, this degree of improved efficiency represents a powerful platform for us to continue to reduce our environmental footprint and continue our leadership in environmental sustainability.”
Walmart Blockchain Supply Chain in India
On Oct 18, cryptonewspoint reported that Walmart Inc is piloting a blockchain project to trace shrimps sourced from India, Andhra Pradesh while being shipped to selected locations of Sam’s Club in the US.
It is one of the first kind projects to use blockchain technology to track the export of shrimps from the farmers of India to a retailer abroad.
Source: PR Newswire