Blockchain technology is the foundation for a new traceability platform launched by Walmart China, which will allow consumers to scan products and receive detailed information.
The retailer, in combination with China Chain-Store & Franchise Association (CCFA), PwC, Inner Mongolia Kerchin and VeChain, announced the Walmart China Blockchain Traceability Platform on 25 June at the 2019 China Products Safety Publicity Week Traceability System Construction Seminar.
Built on VeChain’s VeChainThor Blockchain, the platform was introduced with the first batch of 23 product lines.
These products will feature a QR code, which when scanned by consumers, will give detailed information, including the source of the scanned products and geographic location received by Walmart, logistics process, product inspection report, and many more data points.
Walmart China expects the platform to scale by another 100 product lines by the end of the year. By the end of 2020, half of the retailer’s fresh packaged meat is expected to be traceable on the system and 40 per cent of its fresh packaged vegetables.
“Walmart has always worked to provide reliable products of quality and convenient services to customers, which is our core value proposition,” said Shi Jiaqi, chief corporate affairs officer of Walmart China.
“We use digital methods to improve efficiency and transparency, providing products and services of quality to customers and making life better for busy families in China.”
“VeChain will work with Walmart China to actively take heed of the call of the government, by utilizing technology to promote the traceability of fresh food, and to provide innovative solutions for the traceability platform through digital technology, so as to generate more transparent and reassuring consumption experience,” said Kevin Feng, chief operating officer of VeChain.