We have not once and not twice lobbied the idea of a world where blockchain’s flawless technique is used to right all wrongs (or at least most wrongs). Ok, maybe we are young and idealistic, but along with the number of businesses constantly providing new ways of paying with Bitcoins for more and more products we are seeing more and more evidence that blockchain is indeed becoming a part of our every day lives very rapidly.
You probably know already Dubai has decided to adopt blockchain to become the first country in the world with an economy based on crypto tech.
There are small (comparatively) but substantial changes happening in other countries and areas too. Some countries may be more restrictive, like Russia, who are for creating their own cryptocurrency rather than adopting that of the West. Others, like China, are using it to control their citizens.
America has been working for years to create a comprehensive system of blockchain and Bitcoin regulation. What happens when the free market meets authoritarianism is anyone’s guess. Businesses of today are actively utilizing blockchain for pretty much everything from payments for beer to organizing massive untracked payments. Walmart is one of the companies who decided it was their time for a leap. Walmart has been exploring the market extensively in the last few years, expanding its areas of operations and increasing trading volumes accordingly. It seems now the time has come for vertical scalability improvements.
Making Food Safe
Those of you into marketing will intimately know the story of Sam Walton. Walmart has been known around the world for being an innovative and effective company with a serious presence in the market. No wonder they have decided to adopt the blockchain tech to make things even better.
Walmart is cooperating with IBM and a bunch of other companies to use the latest tech to ensure food safety. Bridgit McDermott, IBM’s food safety Vice President, tells the story:
“IBM, Walmart, JD.com and Tsinghua University will work together closely, maintaining collaboration and communication, to ensure that JD’s solution and IBM’s solution have standards necessary for Wal-Mart and JD customers to have a consistent user experience when accessing the food safety and traceability information.”
Using blockchain to ensure food safety will be one of the most exciting moves so far in terms of creating a safer and more enjoyable new world. Forbes examines this issue in closer detail:
“Who would deny the importance of food safety? It’s a no-brainer. Just take the fruit displayed on the shelves in your local supermarket that might look inviting and succulent. Are you actually able to tell if it is safe to consume? Moreover, each year one in 10 people fall ill globally as a result of foodborne diseases and of those around 420,000 dies.”
In terms of using blockchain to verify the integrity of shipping orders and delivery, Walmart explained that with increasing demands regarding faster shipment, logistics for online purchases, and greater need for quality control all required technological improvements.
Now that sensitive items are shipped more and more often and prices for electronic components, etc. are rising, customers are looking for improved safety conditions. Today, ordering a new Nvidia card and finding out it has been damaged will create many more problems than it would have done in the past when there wasn’t so much delicate equipment delivered on an every-day basis.
Walmart plans to add another layer of security to the existing protocols by using tracking devices, private keys for the buyer and the delivery personnel, and even using drones (we can’t help but think of Dubai with its plans of robocops and flying taxis in the next few years).
We can’t help but commend Walmart on progressive thinking and hope that soon blockchain will be used for plenty other types of business and not only delivery and tracking (we are especially excited about Robocops).
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- Billionaire Investor Tim Draper: “Bitcoin Is Bigger Than the Internet” - Jun 13, 2018
- Bitcoin Comes Back to Reddit (And He Brought A Few Friends) - Jun 11, 2018
- Amazon WILL Track Your Crypto - May 23, 2018
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