According to recent reports, a popular blockchain-based supply chain management platform, VeChain has processed more than 700,000 transactions in 3 hours for Walmart, a multinational retail corporation. Confirming the development, the center of the VeChain community in a publication on Twitter on Tuesday boasted that the network processed the transactions without any instances of spam or token shuffle.
In just over 3 hours, #VeChain has pumped out almost 700k transactions for the biggest company in the world (Walmart).
No spam, no token shuffling, real world, economically beneficial on-chain activity for 1 company, with thousands to come. $VET is the future of #blockchain. pic.twitter.com/eGg1nVO7W9
— VeChain Community Hub (@VechainThorCom) September 27, 2022
He added that VeChainwith this development, has tapped into a “financially beneficial chain activity in the real world for Walmart, with thousands to come.”
In particular, VeChain believes in the unlimited application of blockchain technology, particularly in the world of supply chains. Due to the inefficiencies involved in existing supply chain traceability systems, the need to explore blockchain became unavoidable. The technology, as reported, takes advantage of the most effective strategy to renew the predominant problems in the chain. In addition, it helps “offer new and unique capabilities for businesses and consumers.”
VeChain instilling a paradigm shift in the food industry
Since 2019, VeChain, in its quest to bring about a paradigm shift in the world of supply chain, has collaborated with numerous bigwigs within the sphere. By virtue of the collaborations, it allows these companies to optimize their management systems and facilitate the transparency of the food supply chain.
For example, VeChain collaborated with a China-based subsidiary of Walmart to develop a blockchain traceability platform on VeChainThor. The platform, as designed, scales at least 100 product lines across approximately 10 product categories. This helps “implement a traceability strategy for products and pioneer the large-scale application of blockchain traceability.”
Furthermore, the collaboration allows the Walmart subsidiary to use a modified version of the VeChain platform. This platform, along with software sensors and the Internet of Things, allows data on your chain to be uploaded to a blockchain. With this, customers get detailed information about the “origin of the products in the store by scanning the QR codes printed on the products”.
Beyond Walmart China, VeChain has also collaborated with ASI Group and DNV GL to develop a trading solution for the food and beverage industry. The project, as reported, is powered by the VeChainThor public blockchain. In particular, this solution helps certify information about the entire life cycle of tracked products. This includes “selecting cows, slaughtering, packing, transcontinental shipping to restaurants for beef products.”
Caused by the aforementioned and many others, VeChain remains at the forefront of blockchain adoption in the global food industry. The protocol advocates “long-term weaknesses in fresh food transportation, product selection, transparency of product information, and visibility.” He strongly believes in the effectiveness of blockchain solutions in addressing these issues.
VeChain leads blockchain adoption beyond the food industry
Meanwhile, beyond the food industry, VeChain also aims to lead the green revolution through its real-world ready technology. Reportedly launched VeCarbon to help carbon emissions and data management. as designed, VeCarbon runs as a blockchain-based carbon emission data management SaaS platform on the VeChainThor public blockchain. It helps empower businesses with the future-generation virtual tools needed to “measure and report” carbon emissions data.
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