Supply chain-focused blockchain project VeChain (VET) has inked a significant partnership with Walmart China to ensure the safety of perishable food products. VeChain announced the development through a Medium post published June 25, 2019.
VeChain Lands the Big Fish
Emerging technologies like artificial intelligence (AI), machine learning, Internet of Things (IoT), and blockchain have often been termed as the agents of change to bring about the next industrial revolution and considering the sheer breadth of utilities they provide, it’s hard to argue otherwise.
Distributed ledger technology (DLT) project VeChain is arguably the largest startup in the rapidly advancing blockchain industry which seeks to deploy DLT-based solutions in the extremely labyrinthine supply chain space.
In what is widely being considered a watershed partnership for VeChain, the Singapore-based startup has onboarded retail giant Walmart’s China offshoot with the launch of the Walmart China Blockchain Traceability Platform.
We are proud to announce that the Walmart China Blockchain Traceability Platform is now powered by VeChainThor Blockchain!
— VeChain Foundation (@vechainofficial) June 25, 2019
Announced at the 2019 China Products Safety Publicity Week Traceability System Construction Seminar, the platform is reportedly built on VeChain’s enterprise-grade blockchain solution – VeChainThor Blockchain.
A Landmark Partnership
VeChain is famous within the cryptocurrency ecosystem for its high-profile partnerships, and the alliance with Walmart China is no exception.
The retail conglomerate employs more than 2.2 million people and operates over 11,000 stores across the globe. It’s worth highlighting that the company has,