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Blockchain a growing trend in supply chain visibility, but is it just 'hype'?

February 13, 2020 / Ian Putzger
SHARESHARESHARE

Shippers are increasingly pulling their logistics providers into blockchain as they employ the technology to form networks with business partners and tech providers. Walmart is very much in the vanguard, having set up a blockchain-based freight and payment network in Canada and about to launch a pharmaceutical utility network. According to Walmart and technology provider DLT Labs, the network is the largest “full production blockchain solution for any industrial application” on the planet. It tracks deliveries, verifies transactions and automates payments and reconciliation between the retailer and the truckers hauling inventory, to more than 400 retail locations across Canada. All data are integrated and synchronised in real time on a shared ledger, which participants access through a web portal and a mobile application interface. The system, which integrates seamlessly with their respective legacy systems, performs all the calculations for real-time invoicing, payments and settlement.