Food and Supply Chains Industries Show New Interest in Blockchain
Since 2016, interest among supply chains and food industry companies in utilizing blockchain technology to increase efficiency has spiked dramatically. According to reporting by Trust Nodes, media mentions of the blockchain, supply chains, and food were practically non-existent until 2017. Since that time, these terms have appeared together more and more frequently. Now, it’s common to see indications by some of the largest companies in the country that they are interested in exploring how blockchain can improve food supply chains. Mega-retailer Walmart (WMT) is among these companies.
Walmart and Mangoes
According to the International Dairy Foods Association, “Frank YIannas, vice president of food safety for Walmart, became a believer in the benefits of blockchain technology when his corporate team reduced the time it took to trace a package of sliced mangoes from more than six days to 2.2 seconds.” In this case, blockchain has helped to coordinate many different players along the supply chain, dramatically improving efficiency in the process.
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