VeChain Adoption in Chinese Walmart Ramps Up with Introduction of New Items

newslogical.com 2020-05-22 07:56
Reading time: ~3 m

VeChain traceability solution is going far and wide these days as enterprises and other producing companies realize the need for data security, transparency and transfer to fight against theft and counterfeit in the supply chain industry.

Blockchain technology has so far been recognized as an immutable means that proffers the above-stated needs, however, VeChain has a proven track record in this area.

The latest update as regards the usage of VeChain traceability solution revealed that the adoption of the blockchain technology has been heightened in the Chinese Walmart with the introduction of new products secured with VeChain technology.

Per information revealed by a VeChain enthusiast on Twitter, several new items tagged with VeChain traceability solutions are being introduced into Walmart China regularly.

In the update, it was revealed that a local quail egg packaged with VeChain traceability solution is now in the Chinese section of the US popular supermarket.

#Walmart china has ramped up their #vechain #blockchain game in may. There are several new items coming in these days. For example various eggs! $vet $vtho pic.twitter.com/mrpwe4HtJS

— MiRei (@MiRei83_) May 20, 2020

The video update indicated that the packaged egg with VeChain tag is now live in the Walmart Chinese market Sam’s Club. Seems the egg is secured with VeChain-DNV GL codeveloped My Story, as the video indicates that consumer can view the whole story behind the egg from producer to final retailer.

Walmart China Partners VeChain To Ensure Food Safety and Traceability

In June 2019, Walmart China, the Chinese arm of the US colossal market Walmart, announced an alliance with VeChain and PwC to make use of blockchain technology to secure the authenticity of food products in Walmart stores across the country.

On the day of the alliance was announced, 23 product lines were been listed and attached with VeChain solution.

However, Walmart revealed in a release that it will ramp up the usage of VeChain technology in its market, and the latest one is a case in point.

The collaboration allows for secured tracking of Walmart China products on VeChainThor blockchain.

Via the partnership, customers can easily have access to detailed information about the product they are about to buy by scanning the unique QR code on each item into VeChain application on their smartphone.

About Walmart China

Walmart China is one of the biggest retail markets in China. Due to the prospect of the Chinese market and economy, Walmart entered into the country in 1996 opening its first hypermarket and Sam’s Club in Shenzhen. Walmart China has over 100,000 associates.

With the objective of promoting locally made goods, Walmart China has partnered thousands of suppliers in the country and more than 95% of its goods are locally made.