IBM Walmart Launching Blockchain Food Safety Alliance
Whenever the product changes hands during production, an encoder scans the label so that data - think time, place and content - are updated in Walimai's system. Products bearing a Walimai label generally retail at a 20 percent premium to comparable goods, but it's a cost some consumers are willing to pay.
IBM Forges, blockchain, collaboration With Nestl Walmart
It may not be quite what you think. Wal-Mart is using blockchain technology co-developed by tech giant IBM.
Wal-Mart and IBM want to harness blockchain to improve
The food industry might not leap to mind as a hotbed of fraud, but more and more incidents of foodstuffs being sold as something they aren't have cropped up in recent years. In August, nine other companies across the global food supply chain, including Nestle and Unilever, joined the Walmart-IBM collaboration, hoping to discover new areas in the industry that could benefit from blockchain. Recording the data is where Walimai's blockchain technology comes. The Australian operation of e-commerce giant Alibaba Group Holding announced in May that it was already exploring the use of blockchain technology to curb counterfeit food sold online. It's secure because that piece of data can be written into the blockchain only once, existing from that point on as immutable read-only information.
IBM and, walmart are using blockchain in the food supply
Four years ago, Chinese officials arrested more than 900 people for selling "mutton" that was actually rat meat. South China Morning Post at a forum in Beijing celebrating the first anniversary of Walmart Food Safety Collaboration Center in the country. This article appeared in the South China Morning Post print edition as: Wal-Mart deploys blockchain to boost food safety business-article-page. The Smartest Stuff : Innovators are thinking up new ways to make you, and the things around you, smarter. That makes sense, especially if the alternative is a late-night trip to the vet.
Walmart wants to bring blockchain technology to the food
All this protection, of course, comes at a cost. New York-listed Alibaba owns the, post. Blockchain technology is a game changer in the food industry and China is probably the place to scale its adoption as the Chinese government is already interested in tracing (the supply chain of food) and Chinese consumers are so tech-savvy, Yiannas told. PT: To include an additional statement from the trade group.
Food, trust - IBM, blockchain
"Food fraud is present around the world and has been since food commerce has existed said. Powered by the IBM Blockchain Platform, IBM Food Trust directly connects participants through a permissioned, permanent and shared record of food origin details, processing data, shipping details and more. An rfid chip sits on the label, while the straps contain an antenna that communicates with the company's blockchain-based backend system through the Walimai app, which customers download to their phones. Up to 80 percent of the evoo sold in the US doesn't actually qualify as evoo, according to a CBS News and 60 Minutes report, which also found problems with cheese, caviar and truffles.
Heres a peek at, walmart s game-changing plan to trace
Geoff Allen, chief executive of the Asia Pacific Centre for Food Integrity. Walmart, the huge American retailer, partnered with IBM and Tsinghua University in China last October to explore how food products can be tracked with blockchain tech. Chinese shoppers remain sceptical of the quality of domestic food products, after various food-related scandals, such as one involving baby milk formula tainted with industrial chemical melamine, dominated headlines for weeks a couple of years back.