Walmart and Religious Conversion

When an executive from a blue-chip company like Walmart says he has had a “religious conversion” to the value of blockchain, I think we can safely say the technology is becoming mainstream.  Frank Yiannas is Walmart’s VP of Food Safety, and for the past 2 years he’s been leading the company’s blockchain initiative to reinvent their supply chain management. In April, he announced that Walmart is ready to use blockchain technology in its live food business.

This is a watershed moment for a technology that many critics have maligned as having little real world value beyond spurring wild bitcoin speculation.  Here is one of the largest companies in the world implementing a blockchain solution to address a mission critical challenge.  And they’ve already shown results.  Yiannas reported that their blockchain solution, developed with IBM, was able to shorten the time it took to track produce from six days to two seconds.  Pretty impressive.

At TangoTrade, we’re also a big believer in the potential value of blockchain technology to solve real world challenges.  We’re also pragmatic enough to realize that it’s not going to end world hunger or cure cancer.  For us, the technology is an enabler, allowing us to build new solutions that are more cost effective, more secure, and more efficient.  With our front row seat in the blockchain world, we’re excited to see the technology move into the mainstream with forward thinking companies like Walmart helping light the way.

~Scott Reynolds, CEO, TangoTrade

 

Links:

https://www.computerworld.com/article/3269431/blockchain/why-a-walmart-vp-had-a-religious-conversion-to-blockchain.html

https://www.bloomberg.com/news/articles/2018-04-23/walmart-is-getting-suppliers-to-put-food-on-blockchain-to-track