Supply chains are changing with blockchains! It shows us that blockchain can be useful not only in Fintech.
Which problem does exist in the food supply industry?
Like many aspects of the logistics industry, food supplies aren’t tracked by any sort of central database. Instead of having some sort of shared register, food suppliers are only required to record where they obtained an item, and where it was sold. Past that, companies in the food supply chain have no idea where something they handled originally came from, or where it ultimately went.
That is why, for instance, an outbreak of E.coli bacteria traveled to at least 36 states in lettuce.
Walmart is fighting it
Walmart seems to be concerned with safety in the food supply chain. That is why it implements blockchain. It is a perfect tool to ensure the quality of products and a perfect solution for a global supply chain that is only going to get more complex as time goes on.
China is also working on a global infrastructure build-out, called the BRI, which will probably connect global trading partners at a whole new level. Given the utility that blockchain has demonstrated so far in logistics, it may be an integral part of Beijing’s push to connect Eurasia.
