Walmart recently announced the details of their blockchain-enabled Walmart Food Traceability Initiative. Since the announcement our development team has been working around the clock with Walmart and the IBM Food Trust Network to prepare an easy-to-implement solution for our partners. Here’s everything you need to know about blockchain technology and how Famous Software can help you achieve compliance with Walmart’s new requirements.
A blockchain network is like a secure document that is shared with everyone.
Blockchain is a digital ledger, or record keeping system, that is used to record transactions. Each “block” in a blockchain can contain time stamped transactional data that is kept secure through complex encryption algorithms or cryptography. Blocks can be put together to form large systems of records and information.
Blockchain databases are decentralized, which makes it difficult for any one person or entity to take down or corrupt the network. Information on the database is publicly available, secure, and easily verifiable.
How is blockchain technology being applied to the fresh produce industry?
Walmart is using blockchain technology to create a traceback system that can be used primarily in the event of a food safety issue. They believe that their new system will be able to complete traceback tasks within minutes instead of days, or sometimes weeks.
Walmart is using IBM’s Food Trust network as the backbone of its blockchain network. It has been testing this system for the last 18 months.
In a public letter Walmart established the following timeline for implementation:
Our leafy greens direct suppliers are required to conform to one-step back traceability on the blockchain network by Jan 31, 2019.
Thereafter, our suppliers are expected to work within their vertical systems or with their suppliers to enable end-to-end traceability back to farm by September 30, 2019.
Our development team has been working in direct partnership with Walmart and IBM to make sure that our ERP and FIS products satisfy the needs of Walmart’s initiative and communicate seamlessly with the blockchain network.
Our team has developed a complete on-boarding process that demonstrates how you can use your Famous Software solution to transmit the correct information to Walmart’s blockchain network and achieve compliance.
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