The leading giant in the IT Sector – IBM has declared that accordingly with 63 blockchain clients, the firm is working on 400 projects that are supported on the technology.
Names like Visa, Nestle, HSBC, Walmart and more are in the list of clients out of which 14 are concentrated on food tracking and global payments out of a total of 25 that are targeting the global trade in general – according to a report from Business Insider.
IBM Chief Financial Officer – Jim Kavanaugh, in the beginning of the year stated:
For us, blockchain is a set of technologies that allow our clients to simplify complex, end-to-end processes in a way that couldn’t have been done before.
Last month, a global logistics provider – Agility, did sign a partnership with IBM and Maersk aiming to deliver efficient and secure methods for tracking container shipments by using blockchain technology. In the party, Agility’s function would be to identify any event that is connected with the individuals taking part in the shipment and delivering or receive data or information related to them – with the use of blockchain. The reason of choosing the technology which is exploding these days is to lower costs and hoist shipping efficiency by the data of the shipment on a secure p[latform.
A few days ago, IBM Singapore, port operator PSA International and Pacific International Lines [Pte] Ltd, were reported to have finished successfully trials that were executed for testing blockchain trace/tracking cargo supply chains. After signing a memorandum of understanding (MOU) with IBM in August, the aim was to use innovative technologies such as the distributed ledger to improve security, efficiency, and transparency in the supply chain business.
One of the leading US retail giants Walmart that has applied for its Smart Package System, received the green light by the US Patent and Trademark Office, on March 1 according to a report from Fintech Finance.
With the system, Walmart wants to implement a blockchain technology based tool which will be able to track contents, package, location, environmental conditions and other following up details.
“Smart Package” is not the first instance of Walmart utilizing Blockchain technology. In November, 2016, Walmart partnered with IBM to use Blockchain to detect and remove recalled foods from its products list.
“As a global advocate for enhanced food safety, Walmart looks forward to deepening our work with IBM, Tsinghua University, JD and others throughout the food supply chain. Through collaboration, standardization, and adoption of new and innovative technologies, we can effectively improve traceability and transparency and help ensure the global food system remains safe for all.” – Vice President of Food Safety and Health at Walmart
The projects and released details are just one way to showcase how the costumers confidence can be hoisted up with greater transparency on processes like recalls and verifications using blockchain technology.
Source: Read Full Article