IBM and Walmart Using Blockchain to Keep Food Fresh

[Adam Varga + 123]

Even there are some opinions, such as Goldman Sachs,  that cryptocurrency will become worthless, IBM is still making big bets on blockchain. And now IBM has partnered with Walmart to explore how to apply this technology to food safety. Great way to use this blockchain. 

[Vlad Kovalenko + 115]

Indeed, but how does it work? 

[Adam Varga + 123]

Well the retailers and distributors could see and validate with certainty where the fruit was grown, handled, stored and inspected, even each and every stop made en route to the store. And all these details could be shared via blockchain. 

[Adam Varga + 123]

And you can trace a package of food from farm to the store in just two seconds, instead of days or weeks. 

[Selva + 252]

The best thing is that blockchain will save us all from the boring paperwork. 90% of goods we use come from the global shipping supply chain, what is about $8 trillion a year and 15% of these costs are paperwork between the parties. Now blockchain will eliminate both, paperwork and these costs.