Blockchain project for food security: Walmart is cooperating with VeChain

VeChain is working with Walmart on a project for the traceability of foodstuffs. The Blockchain-based company in Singapore provides a block-grove-application with great potential. The price of the VeChain-Coins (VET) went abruptly to a height of, after the message was leaked.

Brigitte Bernhardt
On the 25. June 2019BTC$11.402,00 4.54%part Facebook Twitter LinkedIn xing mail

The new partnership went first from a Post on LinkedIn by Tom Foth, Senior Director of PricewaterhouseCoopers (PwC) shows. Walmart, VeChain and PwC have announced the traceability of food sold in Walmart in China, said Tom Foth in his Post. VeChain place for this is the Blockchain technology.

The VeChain Community has received the news enthusiastically. As a result, the price of VET shot in the early hours of the morning (CET) in height. CEO Sunny Lu was first covered and tweeted:

It is not only a "partnership", but a Live project and a Live application with useful transactions, see the consumer. (...) I really want to wait for the official release. The PwC-friends are very proud of what we have achieved together.

Meanwhile, the VeChain Foundation stated that it has begun with the introduction of the first Batch of 23 product lines that you are testing on the Blockchain platform. By the end of 2019, with a further 100 product series from ten food categories will be added, including fresh meat products, rice, mushrooms, and edible oil. Walmart China plans up to the end of 2020, the tracing of 50 per cent of the turnover of packaged fresh meat, 40 percent of the packaged vegetables and 12.5 percent of the sales of fish and seafood.

Blockchain solutions for food safety

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With the help of VeChains Blockchain technology to verify Walmart the supply chains of its products and make it more transparent. In this way, the retail giant wants to increase the consumer confidence. Specifically, it should be the customer is able to scan foods directly via WeChat in the shops. WeChat is, however, a especially in China, common Chat service for Smartphones. By scanning the desired products, the customer can receive detailed information. This may be the origin, logistics processes, product test reports, and other data points.

More transparency, thanks to Blockchain

You VeChain founded in June 2015, with the aim of creating real-world applications with the Public block chains. The focus of the Supply Chain Management. The manufacturer can assign to your products by a unique identifier on the platform, and so the origin and movement in the supply chains follow. In the past, the company has already received attention by some of the most promising partnerships. So 2018 was known, for example, that VeChain developed together fraud with the government in Shanghai a Blockchain solution to protect against medicines. Currently, the Blockchain works-businesses, together with BMW to develop solutions against the speedometer fraud.

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