On June 25, in combination with Walmart China, China Chain-Store & Franchise Association (CCFA), PwC, Inner Mongolia Kerchin Co., Ltd., and VeChain, the Walmart China Blockchain Traceability Platform, built on the VeChainThor Blockchain, was announced at the 2019 China Products Safety Publicity Week Traceability System Construction Seminar. This seminar was jointly organized by Walmart China and the CCFA in Beijing.
The announcement of the Walmart China Blockchain Traceability Platform came with the introduction to the first batch of 23 product lines that have been tested and launched on the Platform. The Platform is expected to scale by another 100 product lines by the end of the year covering more than 10 product categories including fresh meat product, rice, mushrooms, cooking oil, etc. It is expected that the Walmart China's traceability system will see traceable fresh meat account for 50% of the total sales of packaged fresh meat, traceable vegetables will account for 40% of the total sales of packaged vegetables, traceable seafood will account for 12.5% of the total sales of seafood by the end of 2020.
VeChain's blockchain technology is enabling Walmart China to implement a traceability strategy for products and pioneer the large-scale application of blockchain traceability. By scanning the desired products, customers can acquire detailed information, including the source of the scanned products and geographic location received by Walmart, logistics process, product inspection report, and many more data points. Data collection and data availability are to be continually added to the scale of the platform and its use of blockchain technology.
THE WALMART CHINA BLOCKCHAIN TRACEABILITY PLATFORM SIGNING CEREMONY
The Walmart China Blockchain Traceability Platform signing ceremony took place at the 2019 China Products Safety Publicity Week Traceability System Construction Seminar. The partners in attendance are represented by:
-- Mr. Pei Liang, President of CCFA
-- Mr. Chu Dong, Vice President of CCFA
-- Mr. Shi Jiaqi, Chief Corporate Affairs Officer of Walmart China
-- Mr. Yang Weizhi, Managing Partner of PwC China Strategy and Innovation
-- Mr. Feng Yikai, Chief Operating Officer of VeChain
-- Mr. Liu Xiaoen, Chief Procurement Officer of Walmart China
-- Mr. Chen Mingzhi, Chief Ethics Compliance Officer of Walmart China
-- Dr. Yan Zhinong, Executive Director of Walmart Products Safety
Collaboration Center
-- Mr. Li He, Chairman of Inner Mongolia Kerchin Co., Ltd.
As part of the event, the signing ceremony attendees conducted a discussion on how to share responsibilities and use technological innovations to guarantee the quality and safety of products and edible agricultural produce, boost consumer confidence and satisfaction, and contribute to the upgrading of service consumption.
