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Vechain & Walmart China

H4BB
Coinmonks
4 min readSep 3, 2020

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Going back to June 25 2019, Vechain and Walmart China alongside with PWC entered into a strategic agreement. This lead to the creation of Walmart’s Blockchain Traceability System, lets take a look at the smart contract associated with this system.

“0xbe7a61b0405fdfbaae28c1355cd53c8affc1c4b0” is the main smart contract addressed associated with Walmart’s Blockchain Traceability System built on Vechains blockchain. At the time of writing it has processed 10,389,066 clauses since inception.

Many different products from Walmart China & Sams Club, Walmarts membership-only retailer, are associated with this contract that has been spotted in supermarkets and posted across social media. Neither Vechain nor Walmart China has explicitly labeled these contracts on mainnet but with the evidence provided it is quite evident their use.

Here is an example of what the system looks like, you can learn more about it here.

According to the press release from Vechain:

“It is expected that Walmart China’s traceability system will see traceable fresh meat account for 50% of the total sales of packaged fresh meat, traceable vegetables will account for 40% of the total sales of packaged vegetables, traceable seafood will account for 12.5% of the total sales of seafood by the end of 2020.”

This was a significant claim to make back at the end of June 2019. Lets take a look at the smart contracts use over the past few months to see how far along they have come.

Increasing data clauses run by Walmart Smart Contract in the past 4 months.

The amount of clauses this smart contract has processed has been growing consistently over the past 4 months.

  • May: 1,167,195
  • June: 2,295,898
  • July: 2,902,502
  • August: 3,355,616

From May to the end of August they have been able to increase their smart contract usage by almost 200%!!

It is impressive with all that has happened this year that they have been able to increase their smart contract usage as much as they have. With a few months left until the end of the year I expect the number of clauses this contract processes to slowly but surely continue to increase as Walmart China looks to cover 50% of packaged fresh meat, 40% of packaged vegetables and 12.5% of seafood to be traceable on Vechains blockchain.

Based off the smart contract usage I would say Walmart China will fall short on covering all of the products and product lines they set out to by the end of the year but that goal was before we knew what a curve ball this year was going to be.

This system will allow all parties involved to upload data at specific points of the supply chain to bring greater visibility and trust.

For example from the beginning stages of a product in raw material form to the end customer it can all be tracked and uploaded with relevant timestamps at specific points of the supply chain and information such as temperature, logistics, certification and safety data can all be hashed to Vechains blockchain in order to show a full history of the products journey.

Breaking into managing the supply chain for a humongous multinational corporation like Walmart is no easy feat and Vechain has already made considerable progress in digitizing Walmart Chinas supply chain and those of their suppliers.

Walmart, The Fortune #1 Company in terms of revenue, is significantly enhancing the efficiency and visibility into their supply chain and that of their suppliers by utilizing Vechains blockchain technology and investing deeply in IoT sensors and cold chain logistics infrastructure to get the most out of complex distributed supply chains.

The foundation and infrastructure of the system have been laid and now is the time for expansion.

This smart contract will be a good gauge to see how big of a role this new food traceability system is playing in Walmart Chinas operations going forward.

Also, Read

Technology
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Supply Chain
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Vechain

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H4BB
Coinmonks

Written by H4BB

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