Walmart Canada announces blockchain system to boost 400 stores across Canada
- The new blockchain solution will be used for; tracking deliveries, verifying transactions, and automating payments.
- It aims to increase efficiency, reduce costs, and allow for easier budgeting and planning.
Walmart Canada has announced a new solution based on blockchain, they describe it as the world’s “first enterprise full production blockchain solution launched at a large scale mission-critical function”.
It is a network which will allow for information sharing and collaboration between 70 third-party trucking companies serving the company. The blockchain system has been a collaboration between Walmart Canada and DLT Labs. The new solution aims to increase efficiency, reduce costs, and allow for easier budgeting and planning for the company’s logistics arm.
As per the press release, the Walmart Canada blockchain is reportedly the largest such application of the technology ever to hit the logistics industry. It will be leveraged for; tracking deliveries, verifying transactions, and automating payments between the company and the 70 trucking companies it works with. It will serve Walmart’s 400 retail stores across Canada.
Author
Ken Chigbo
Independent Analyst
Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.
