Blockchain has become an eminent tool to enhance business operations today. Its cost-reducing and high-security attributes have made it the best fit for almost every business. Owing to its merits, Flipkart’s backer, Walmart has recently proclaimed a pilot program to track shrimp imports that will be transported from India to the USA via blockchain technology.
The Ameican retail giant plans to track shrimp imports between Andhra Pradesh, a gorgeous coastal region in India’s southeast, and U.S.-based retail warehouses, using blockchain technology developed by IBM. It will feature “end-to-end traceability,” stated Decrypt citing the company’s statement in the press release.
By adopting blockchain, Walmart will enable fast, improved shrimp imports and further, provide authentic information to the users partaking in the process.
Upgrading the Transportation Process via Blockchain
The US-based company, Walmart is mainly employing the blockchain for supply chain of shrimp. This system will be used by small farmers and consumers, bettering traceability of the shrimps.
“The introduction of blockchain in the shrimp supply chain could help improve the quality of information on the product for compliance purposes and for sharing with consumers, providing added traceability beginning at the farm and extending throughout the transportation process,” stated Decrypt citing the company’s statement.
Indian small-time farmers, who are enrolled in Walmart’s membership-only retail warehouse chain, Sam’s Club, will be using the new system. Primarily, Sam’s Club is a food-safety program which requires to conform with international best aquaculture practices (BAP). Further, the American multinational retail company will offer funding for small farmers in Andhra Pradesh (AP) to receive BAP training as a component of the scheme, according to the cited media report.
“This end-to-end blockchain pilot is the first of its kind in India and has the potential to create long-term economic opportunity for the shrimp farming community in Andhra Pradesh, directly benefiting the farmers through new skills training and development,” Managing Director of Indian seafood processor, Sandhya Aqua, Chowdary Kunam said in an interview to the cited media report.
The Indian processor is partaking along with the US-headquartered supplier, Stanley Pearlman Enterprises.
For a long time, blockchain technology has been the crux for Walmart as the retailer company is working along with the IBM Food Trust blockchain project since 2017. The recent project is planned to operate on IBM’s blockchain system, which the retailer company has utilized to track supply chain, lettuce supply chains.
Other than Walmart, several other firms are making use of blockchain to enhance their business globally. Bajaj Electricals, an electronics firm, Alibaba Group Holdings Ltd, an e-commerce firm and American Express Company, a financial services company are some of the prominent firms using blockchain to thrive in their business.