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Walmart Requires Certain Produce Suppliers to Deploy Blockchain Technology | | Cryptocurrency news. Breaking news on cryptocurrency.
Walmart will require its suppliers of leafy-greens to implement blockchain technology by September 2019. U.S. retail giant Walmart and its division Sam's Club, a membership-only retail warehouse club, will require suppliers of leafy greens to implement a farm-to-store tracking system based on blockchain tech, Reuters reported September 24.The end-to-end traceability system is based on distributed ledger technology (DLT) developed by computing giant IBM. According to the report, Walmart will require suppliers to implement blockchain tech by September 2019.The company's Vice President of Food Safety, Frank Yiannas, stated that Walmart will require a similar traceability system "for other fresh fruit and vegetable providers within the next year." Walmart told Bloomberg that over 100 companies will be required to implement IBM's blockchain service.Walmart claims that blockchain tech implementation will "dramatically [improve] efficiency." Frank Yiannas conducted a traceability experiment