Sam’s Club China Joins Walmart, Launches Vechain-based Blockchain Traceability Platform
Walmart of China, in 2019, announced a Blockchain Traceability Platform in association with PwC China and VeChain.
Almost a year after the announcement of the platform, Walmart is now ready to roll out the traceability platform via its subsidiary, Sam’s Club. Sam’s Club is a membership-only high-end shopping chain that will launch a version of the traceability platform called Sam’s Club Blockchain Traceability Platform.
Sam’s Club is quite popular among the wealthy as the company currently runs 26 outlets and is expected to operate about 40-45 clubs by the end of 2022. The blockchain traceability platform is perfect for testing through Sam’s club as it serves around 2.8 million members, and the numbers are expected to double up after every few years.
This platform roll-out will allow Sam’s club to combine VeChain, ToolChain along with cold-chain IoT and a variety of traditional software and hardware sensors. Thus enabling the safekeeping of data and uploading of key logistic and manufacturing data on the blockchain. This data can be then attached to a QR code accessible to the customers on the product they buy. A simple scan of the QR code would offer all the logistical details of the product.
Blockchain Ensures Quality of Products and Service
Sam’s Club is a luxury outlet for buying premium quality products and thus the clients expect only the best. The use of this traceability system would not only help the firm to ensure quality products but would also offer great insight for customers about the products they buy. This would increase transparency for the firm and also build trust between the service provider and customers.
The supply-demand management and food traceability have emerged as the biggest adopters of blockchain technology which in turn has attracted many mainstream tech firms like IBM and Microsoft to invest in building enterprise-grade blockchain solutions.