Dive Brief:
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Wal-Mart is testing blockchain technology to improve food safety, according to a Bloomberg report. The retail giant is currently tracking two items in a test that includes thousands of packages shipped to various stores.
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The company believes blockchain could potentially speed up the process of identifying and removing recalled food. Currently, it can take days to identify and remove a product once a customer becomes sick.
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Using blockchain, Wal-Mart can conduct more targeted recalls rather than pulling all products from the shelves when a recall is announced.
Dive Insight:
The company is using blockchain technology co-developed by IBM. If the test is successful, it could change how Wal-Mart monitors food and launches recalls. If Wal-Mart adopts blockchain to track food globally, it would be one of the largest implementations of the technology to date, according to the report.
Blockchain technology helps guarantee information has a timestamp and recorded whenever any change happens, ensuring data can be trusted in real time. It’s now being used in a growing number of industries, including education, banking and financial services.
Swedish telecom company Ericcson, for example, is using blockchain to ensure data integrity and to serve as a strong foundation of its increasing cloud presence.
