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VeChain processes 700,000 transactions in less than 3 hours for Walmart – Real world adoption

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VeChain Diego Ioppolo Shutterstock 1152x600 1
27
Sep

Source: Diego Ioppolo – Shutterstock

  • Notably, VeChain believes in the limitless application of blockchain technology, particularly in the world of supply chains.
  • Meanwhile, beyond the food industry, VeChain also aims to lead the green revolution through its real-world ready tech.

As per recent reports, a popular blockchain-based supply chain management platform, VeChain has processed over 700, 000 transactions within 3 hours for Walmart, a multinational retail corporation. Confirming the development, VeChain’s community hub in a Tuesday Twitter post boasted that the network processed the transactions without any cases of spam or token shuffling.

It added that VeChain, with this development, has availed a “real world, economically beneficial on-chain activity for Walmart, with thousands to come.”

Notably, VeChain believes in the limitless application of blockchain technology, particularly in the world of supply chains. Occasioned by the inefficiencies enveloped in existing supply chain traceability systems, the need for the exploration of blockchain became inevitable. The technology, as reported, avails the most effective strategy to revamp the prevailing problems in the chain. It further helps in “delivering new, unique capabilities for enterprises and consumers.”

VeChain instilling a paradigm shift in the food industry

Since 2019, VeChain, in its quest to bring about a paradigm shift in the world of the supply chain has collaborated with numerous bigwigs within the sphere. By virtue of the collaborations, it enables these companies to streamline their management systems and facilitate supply chain transparency for food products.

For instance, VeChain collaborated with a China-based subsidiary of Walmart to develop a blockchain traceability platform, on VeChainThor. The platform, as designed, scales at least 100 product lines in about 10 product categories. This helps to “implement a traceability strategy for products and pioneer the large-scale application of blockchain traceability.”

More so, the collaboration allows the Walmart subsidiary to utilize a modified version of VeChain’s platform. This platform, alongside software sensors, and Internet-of-Things allow for the uploading of data on its chain to a blockchain. With this, customers get detailed information on the “origin of products in-store by scanning QR codes printed on the products.”

Beyond Walmart China, VeChain also collaborated with ASI Group and DNV GL to develop a trade solution for the food & beverage Industry. The project, as reported, is powered by the VeChainThor public blockchain. Notably, this solution helps to certify the information on the full lifecycle of the tracked products. This includes “cow selection, slaughtering, packing, cross-continental shipping all the way to restaurants for beef products.”

Occasioned by the aforementioned and many others, VeChain remains at the vanguard of blockchain adoption in the global food industry. The protocol advocates “long-term pain points in fresh food transportation, product selection, product information transparency, and visibility.” It strongly believes in the efficacy of blockchain solutions in addressing these issues.

VeChain is leading blockchain adoption beyond the food industry

Meanwhile, beyond the food industry, VeChain also aims to lead the green revolution through its real-world ready tech. It reportedly launched VeCarbon to aid carbon emission and data management. As designed, VeCarbon runs as a blockchain-based carbon emission data management SaaS platform on the VeChainThor public blockchain. It helps to empower enterprises with the necessary future generation virtual tools to “quantise and informative” carbon emission data.

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