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preventing future outbreaks by quickly and accurately recording sources and flow of products
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outbreaks will be much less likely if consumer products information is on a blockchain / Consumer will have info on sourcing of foo products
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transparency within product details builds trust among for everyone in the flow of products: consumers , suppliers, etc.
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“The missing piece was a shared forum where companies could begin to
see each others’ transactions and develop trust,” aka - blockchain
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- What is the motivation behind Walmart investing in a blockchain solution?
A. Making more money (DUH!)
In order to do this, they are streamlining their supply chain by using blockchain to speed tracking their produce. - How will this new solution benefit us as customers?
B. It will speed the search for the source and intermediaries used, in case of contaminated foods they will know what foods to pull to ensure we are kept safe. - How will this new solution benefit Walmart as a corporation?
C. Being able to know what foods are safe and fresh, enables them to provide the best possible product to their customers at an attractive price. - What was the missing piece in their solution before they found blockchain?
D. Traceability was hampered by a mix of paper and electronic data as well as a the electronic data being incompatable.
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Improving the tracking system of supplies
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Improved system for tracking down infected supplies. Also simply check for anything along the chain
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Less paperwork, faster tracking, from 7 days to within a few seconds. Better access to information about each node in the supply chain.
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A forum where companies could see each others transactions, thus building trust.
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- What is the motivation behind Walmart investing in a blockchain solution?
Walmart learned they had to step up their food business to ensure of the quality of their food products more than ever.
- How will this new solution benefit us as customers?
They introduced this so that trace every step of the food from its origin till it lands on our plates upholding safety and quality of the foods.
- How will this new solution benefit Walmart as a corporation?
Walmart as a world wide known business can claim to be pioneers on this as every consumer will think positively after learning the fact that groceries bought there adhere to system processes that ensure safety and quality on a next level basis.
- What was the missing piece in their solution before they found blockchain?
Now the traceability of the products is possible and very precise and the producers know that too. Eventually only the ones with the highest regard of quality will remain in the Walmart provider pool.
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1. What is the motivation behind Walmart investing in a blockchain solution?
To control and help mitigate the effects of foodborne illnesses
2. How will this new solution benefit us as customers?
Will increase the efficiency of the supply chain, potentially making products cheaper. Will also increase transparency of the products people buy, so you can see where exactly it came from and where it has been.
3. How will this new solution benefit Walmart as a corporation?
It should increase customer satisfaction and trust in the company, eliminate unnecessary costs, help prevent delays in the supply chain.
4. What was the missing piece in their solution before they found blockchain?
A shared forum where companies could see each others transactions and develop trust.
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What is the motivation behind Walmart investing in a blockchain solution?
The motivation behind building a blockchain solution is Walmart will be able to better track its good from origin to store shelf. They’ll be able to identify problem products quickly and pull them before they reach consumers. It will also help provide transparency and prevent foods from being sold with false information. -
How will this new solution benefit us as customers?
This solution will help maintain high consumer faith in the Walmart brand to protect their product interests. It provides trust that consumers are getting properly labeled foods and goods. -
How will this new solution benefit Walmart as a corporation? It saves them time and money tracking problem products that might enter their supply chains.
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What was the missing piece in their solution before they found blockchain?
Walmart could not easily identify all aspects of the product lifecycle. Products, ingredients, and foods may be mislabeled, unverified, and difficult to track through the freighting lifecycle.
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What is the motivation behind Walmart investing in a blockchain solution?
Tracking down issues such as contamination is difficult with manually processed information. Time to trace source of food is seconds instead of days. -
How will this new solution benefit us as customers?
Above decreases the likelihood of contaminated / spoiled food will reach consumers. -
How will this new solution benefit Walmart as a corporation?
Saving time as well as possibly able to decrease headcount / move workforce to something else that matters instead of processing / gathering data manually. -
What was the missing piece in their solution before they found blockchain?
Transparency, traceability.
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- What is the motivation behind Walmart investing in a blockchain solution?
Quicker and mire reliable tracking of products as it makes its way though the supply chain. - How will this new solution benefit us as customers?
It will stop any issues with food reaching us as customers as it can be routed out before it get to us. - How will this new solution benefit Walmart as a corporation?
It will take the ability to track food source from 7 days to seconds, persistent offenders can be routed out - What was the missing piece in their solution before they found blockchain?
the length of time to trace the source of food.
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The key motivation for Walmart to use blockchain technology - developed by IBM - is to accurately and incorruptibly track the provenance of its supply of fruits & vegetables.
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As a consumer/customer, blockchain technology will provide us transparency of goods & services, and consequently greater consumer confidence in what they are consuming, buying, or purchasing. Also, the technology can track the provenance of goods & services at a faster rate, i.e., 2.2 seconds with respect to food, and this will deter any harmful food supply.
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i) The whole supply chain of the company will be transparent.
ii) Tracking the provenance of its food supply chain will be extremely fast.
iii) Greater reliance on supply chain data because of the immutability feature of blockchain technology.
iv) Greater consumer confidence in the company that will increase their brand value, loyalty, and revenue. -
The missing piece was a shared forum so that companies (network participants) can see the TXs and build trust on each other.
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1. What is the motivation behind Walmart investing in a blockchain solution?
To save time for the company and because they believe customers deserve a more transparent supply chain.
2. How will this new solution benefit us as customers?
From 7 days to 2.2 seconds to determine potential health risks in food.
3. How will this new solution benefit Walmart as a corporation?
This will benefit Walmart greatly in their reputation regarding food safety standards.
4. What was the missing piece in their solution before they found blockchain?
The missing piece was not having a single location for all the food and those whose hands it passed through before getting to the shelves.
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1. What is the motivation behind Walmart investing in a blockchain solution?
Being able to track inventory back to its source in order to quickly solve problems in their supply chain.
2. How will this new solution benefit us as customers?
Customers can see how products came to be.
3. How will this new solution benefit Walmart as a corporation?
It allows them to eliminate unnecessary layers of the business.
4. What was the missing piece in their solution before they found blockchain?
Having a forum where businesses could share data/transactions and develop trust.
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Walmart wanted a process that was more traceable, transparent, and less sluggish than their traditional operations.
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The process makes it easier to track food that is being recalled due to a bacterial contamination such a E. Coli. This improves food safety by making it easier to track which locations might have the recalled products.
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Their ability to track infected food products improved from 7 days to 2 seconds by utilizing the blockchain. Overall, it’s a more efficient way to store and analyze data about their supply chain.
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Food traceability was limited and out-dated in the old system.
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- origin and tracking of good
2 knowledge that food we see and buy is really what we expect
3 no viruses/damages caused to consumers + more trust from consumers - tracing food origin
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What is the motivation behind Walmart investing in a blockchain solution?
To track the supplies, particularly food throughout the chain to identify issues quickly:
Frank Yiannas, vice president of food safety at Walmart (WMT) - “If you
could track and pinpoint where that came from faster, you could alleviate all that
and ensure consumer confidence continues.” -
How will this new solution benefit us as customers?
Reduce the risk of contaminated food being distributed and bought, increase confidence in the product and company. -
How will this new solution benefit Walmart as a corporation?
Provide trust in the supply chain process, origin, status and location in addition to increasing the ability to effectively investigate and resolve issues with products or processes to achieve greater efficiency and cost savings. -
What was the missing piece in their solution before they found blockchain?
Paul Chang of IBM stated “The missing piece was a shared forum where companies could begin to see each others’ transactions and develop trust”
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- Safer, more efficient and more transparent supply chain
- As a customer, we have more transparency about where the product come from and how they are produced and distributed
- It can lead to a better for the image of the company. Its makes sure they sell safe products (trust). It also reduces the time of response and research when a problem occurs in the supply chain (they have more precise information).
- A shared and digital ledger where entities can see each other and build a trusted supply chain together
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- Blockchain will help Walmart to guarantee food tracebility, food safety and transparency to its customers
- More trust and transparency about the origins of the product
- Walmart will be able to cut costs and paper work for food traceability and also to react more quickly in case of some problem or desease.
4.A shared and immutable database which could be easily accessed by all the interested actors.
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- To offer more transparency to its customers.
- It’s easy to trace a product (2.3 seconds)
- It will make the entire supply chain fore efficient by putting all the necessary dosumentation on a communal blockchain.
- Efficient traceability
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Consumer safety - the goal is to reduce the chance of infected food reaching the customer. Blockchain reduces the time it takes to locate different articles in the supply chain. That reduces the time it takes to eliminate the bad articles, if need be.
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It reduces the chance that we as a customer will get infected food. We can also go and check the supply chain and if we get infected food, they can quickly resolve the issue.
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They can say with higher certainty and conviction that their food is fresh, without infections and safe to consume. That is something that the customer can check and thanks to blockchain the data is irrefutable.
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They didn’t have a database that was accessible by all interested parties, and that was also secure with low risk of tampering. Blockchain provided that and increased the speed of information flow significantly.
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- What is the motivation behind Walmart investing in a blockchain solution?
Previous experience with food food (supplier) issues, that caused many people to get sick and also 3 people to die. They intended to make the information in a supply chain system for tracking products being shipped more secure, efficient and reliable. - How will this new solution benefit us as customers?
Provides transparency of the products journey from distributor to the consumer - How will this new solution benefit Walmart as a corporation?
Improved public relations, faster identification of problems within supplier chain. Less disruption to revenues. - What was the missing piece in their solution before they found blockchain?
Transparency of transactions which also enable the development of trust.
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1)Some time ago in Us spinach was infected with E Coli bacteria and it led to death of 3 people. If this could have been traced on time result would be different. So to trace food, it’s origin, it’s shelf life so that it’s safe for consumption wallmart adopted bloackchain
2. We will be able to have better knowledge about the food, it’s safety , transparency, faster information will help consumers
3.Lesser manual labour , faster (eg earlier it use to take 7 days to tack and now it takes 2.2 seconds), this will not only help maintain quality and transparency but will also help organisation to know point of fault/failure much more easily and quickly
4.A immutable piece of data that can keep information and can be accessed by trusted parties
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