Blockchain Will Reduce Food Waste?

Marcin Iwański
Article by

The world largest food discount retailer – Walmart Inc. will use blockchain in its business, as Bloomberg reported.

Walmart, as one of the biggest food suppliers, sees blockchain as a tool which can solve one of the biggest problems in the world – lack of time. With using blockchain technology, the company will be able to verify any information about the product and also will be immune to hacker attacks.

The announcement made by Frank Yiannas, Walmart Vice President of Food Safety and Health at the MIT Technology Review’s Business of Blockchain conference in Cambridge Massachusetts, says that thanks to the blockchain, they will be able to reduce the time needed to track produce from six days to seconds. The suppliers of Walmart will have to put food on the blockchain. This procedure will reduce the food waste and improve management of contamination and transparency.

Walmart Inc. began to test the technology with IBM to remove recalled foods from its product list and submitted a patent application for its “Smart Package” system.  It is a Blockchain-based tool to track package contents like locations or environmental conditions.

Walmart is another big company which sees blockchain as a way to help their business. Earlier,  Daimler the owner of, e.g., BMW brand, released its own MobiCoin, which will reward good driving behaviours. Also, Porsche introduced a blockchain technology to its cars to improve, e.g., safety.

What do you think about implementing blockchain in big companies?

Tell us here in the comment section below, or via Facebook.


If you want to comment this article, visit our forum!

The site shall not be held responsible for any consequences resulting from the use of data contained in the pages of the site.