Walmart Canada and DLT Labs announced the launch of blockchain-based freight and payment network at the end of 2019. Walmart Canada Launched Blockchain Solution for Freight and Payment Network.
The latest freight and payment network focused on blockchain, manages, integrates and synchronizes the entire supply chain and real-time logistics information, compiling data on a shared ledger between Walmart Canada and its third-party truck fleet.
The joint venture provides state-of-the-art partnership and sharing of information with 70 third-party trucking companies that transport Walmart Canada’s inventory nationally.
The latest technology connects with the legacy systems of each organization so that companies can continue to follow their current processes without training on new technology.
The move emerged from the increased emphasis of Walmart Canada on cost reduction to ensure the lowest everyday rates for Canadian customers.
John Bayliss, senior vice-president of logistics and supply chain, Walmart Canada, said:
“Blockchain is enabling a material advance in our smart transportation network, with expedited payments, extensive cost savings and other benefits among our supply chain. Moreover, this degree of improved efficiency represents a powerful platform for us to continue to reduce our environmental footprint and continue our leadership in environmental sustainability.“
Due to the apparent elements of Blockchain technology, there are several opportunities to store data in a secure, shared ledger, which can not be changed.
DLT Labs is a global leader in blockchain solutions for enterprises and a pioneer in developing and applying standards.
Recently, it announced that blockchain technology is being used to track its Indian-sourced shrimp for select Sam’s Club retail locations in the United States.