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Several major consumer goods companies are adopting Blockchain technology to effectively monitor the movements of their products in supply chains. Among the companies are Walmart, IBM and Nestle which have recently collaborated on a project that aims to use the technology to make the current food system safer.
Walmart and IBM have already conducted early trials of the project in China and the US. In the pilot run, Blockchain was used to digitally monitor food products from pork and mango suppliers to the stores, and ultimately to the consumers.
Among the product data that were used in the tracking are batch numbers, farm origination details, factory and processing data, and expiration dates. Every piece of data that was entered into the Blockchain provides vital data points that could possibly reveal food safety issues with a product.
Taken from here.
Walmart and IBM have already conducted early trials of the project in China and the US. In the pilot run, Blockchain was used to digitally monitor food products from pork and mango suppliers to the stores, and ultimately to the consumers.
Among the product data that were used in the tracking are batch numbers, farm origination details, factory and processing data, and expiration dates. Every piece of data that was entered into the Blockchain provides vital data points that could possibly reveal food safety issues with a product.
Taken from here.
This and many more thousands of possible applications is what makes the blockchain technology really so revolutionizing and since it is an open-source companies and individuals can easily adopt the system to their existing platform and make it more efficient, responsive, timely and of course more profitable which can be one the most important aims of any business organizations. We can expect more and more big names in different industries to also get into the use of the blockchain as one of the most innovative technology for the past many decades. Had it been patented by Satoshi Nakamoto, blockchain technology could have sold millions and possibly billions of sales.