- Walmart China continues to expand the use of the VeChainThor blockchain for supply chain tracking and regularly brings new products to the Chinese markets.
- As a result, transactions related to Walmart China have increased significantly on VeChainThor.
After the Chinese President, Xi Jinping, gave a high-profile speech on the blockchain in October last year, praising its potential, VeChain has been able to implement numerous use cases in and for China. Without doubt the VeChain Foundation belongs to the category of blockchain companies from which the Chinese economy can profit. Walmart China, one of the largest partners of VeChain, has recognized this potential.
As reported, Walmart China launched the Walmart China blockchain Traceability Platform (WCBTP) based on the VeChainThor blockchain at the end of last year in a joint venture with PricewaterhouseCoopers (PwC), Inner Mongolia Kerchin and the China Chain-Store & Franchise Association. The first batch of 23 products was already tested at the end of last year. Several hundred products in ten different food categories were added in February.
Walmart China continues to expand the use of VeChainThor blockchain
A recent update has revealed that the VeChainThor blockchain and WCBTP are becoming more and more popular in Walmart, China. According to information from a VeChain enthusiast on Twitter, many new items featuring VeChain’s supply chain solution are regularly introduced at Walmart China. In a tweet, Twitter user „miRei“ informed that a package of local quail eggs packed with VeChain’s VeChain tracking solution can now be found at Walmart China.
The video in Chinese shows that the packaged quail eggs have a VeChain QR code, which allows the scanned product and its origin and supply chain to be traced back to Sam’s Club at Walmart in China. Another Twitter user commented that transactions related to Walmart China have recently increased on the VeChainThor blockchain. The ever-increasing number of products could be an explanation for this.
Using the QR code, customers can easily access detailed information about the product and trace the entire supply chain. Each product contains a lot of important information, such as weight and place of origin, which can be read out free of charge. In addition, it is possible to trace exactly when the product left which location and which last station the product passed through.
By the end of 2020, more than 50 percent of packaged fresh meat, 50 percent of packaged vegetables and 12.5 percent of all seafood sales recorded on the platform will be tracked.
VeChain establishes itself in China
Walmart is just one of many Chinese cooperation partners of the VeChain Foundation. In early April, VeChain entered into a partnership with Chinese natural gas giant Shanghai Gas to establish an „Energy-as-a-Service“ ecosystem. In December last year, the Chinese General Council of Anhui Tea Industry Association was welcomed as a partner. Within this framework, up to 670 Chinese companies from the tea industry could use the VeChain Thor blockchain.
In addition, just two weeks ago it was announced that VeChain will be the only public protocol to be used by the APAC Provenance Council as part of an initiative to build a blockchain-based food supply chain solution for the Australian-Chinese trade.