Hi Guys, in this post let’s see how Walmart Canada is using a blockchain-based freight and payment network.
The Proposed solution is the world’s largest full production blockchain solution for any industrial application.
The Parties Involved –
Walmart – American multinational retail corporation that operates a chain of hypermarkets, discount department stores, and grocery stores
DLT Labs – Enterprise providing Data Management Products to Transform Business Processes
The New Big thing –
The new decentralized system will use distributed ledger technology (DLT) to track deliveries, verify transactions and automate payments among Walmart’s 400 retail stores across Canada.
The new system is scheduled to be live by February 1 2020.
The solution is accessible using a web portal and a mobile application.
“Our carrier partners move over 500,000 loads of inventory nationally, which creates an extraordinary volume of transaction data. This new dynamic and interactive blockchain technology platform is creating complete transparency between Walmart Canada and all of our carrier partners.”
This Process ensures extensive cost savings, Expedite Payments, Accurate tracking, etc
The decentralized network manages, integrates, and synchronizes all the supply chain and logistics data in real-time, aggregating the data between Walmart Canada and its attached fleet of third-party trucks
Loudon Owen, CEO of DLT Labs, added: “This proves the high value of blockchain and sets the stage to revolutionize supply chain management and logistics, due to its ability to enable secure information sharing, manage the trust, and reduce waste in multi-partner operational processes.”
Source – COINRIVET
Image Credits – Wired