Walmart China Subsidiary Taps VeChain (VET) for Enhanced Supply Chain Traceability
The transparency of blockchain operations means it is easy to pinpoint false information, thereby bolstering credibility, safety, and efficiency. Supply chain focused blockchain project VeChain has emerged as a go-to platform for traceability. Now, Sam’s Club China, a Walmart China-owned membership only premium shopping chain, has rolled out its version of a tracking platform called the Sam’s Club Blockchain Traceability Platform, per a VeChain press release, June 1, 2020.
Walmart China Group Ropes in Sam’s Club China
On June 25, 2019, PwC China and Walmart China announced a plan to develop a traceability platform on the VeChain blockchain called the Walmart China Blockchain Traceability Platform.
Therefore, the subsequent decision of Walmart China Group to rope in Sam’s Club China one year down the line hints of their unwavering move towards blockchainization. Sam’s Club China operates 26 outlets in the Asian economic powerhouse serving over 2.5 million people.
While blockchain tags interesting features, they must be highly customizable and standardized for adoption. These are seemingly hard concepts that were made possible by the customizable VeChain’s ToolChain turnkey BaaS (Blockchain-as-a-Service) platform.
Businesses can use it as a base to develop their applications that suit different scenarios. The solution is specifically designed to counter counterfeit products and grants overarching access to the legacy data of a product. It lowers the high technical threshold for businesses while substantially reducing the cost of blockchain integration.
VeChain ToolChain Is Driving Blockchain Adoption
Notably, there is a high level of efficiency and security when ToolChain is used with traditional hardware and software and cold-chain Internet-of-Things.
Businesses involved in the supply chain can use these combinations by uploading data to the VeChain Thor blockchain leveling the field for consumers and eliminating information asymmetry.
Later, the history of the end product can be traced and data instantaneously verified through a QR code that extracts requisite information from the immutable VeChain Thor blockchain.
Bayer China and DNV GL Use VeChain Solutions
In late May 2020, Bayer China launched the cSecure Clinical Trial Traceability platform to enhance its trial of clinical drugs. The Mediterranean Hospital of Cyprus also has the COVID-19 E-HCert Archival and Digital Passport application. Both are powered by ToolChain.
Additionally, PwC and DNV GL use the ToolChain Turnkey packaged to develop products for their clients.
On May 13, 2020, DNV GL Business Assurance China described a solution to solve the food safety problems in China by partnering with Norway in a Box and VeChain.
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