Walmart to Order Suppliers to Move to DLT in a Year

As reported, any company supplying Walmart with leaf greens must work on the IBM Food Trust network to ensure end-to-end traceability of its products
25 September 2018   434

Walmart intends to begin selling leafy greens within a year, information about which will be recorded in the blockchain, the company said in a press release.

World largest in terms of revenue and number of employees retailer reported that it notified leafy greens suppliers about the need to integrate a tracking system on a blockchain system developed jointly with IBM by September 2019.

According to the letter sent to the suppliers, any company supplying Walmart with leaf greens must work on the IBM Food Trust network to ensure end-to-end traceability of its products. The blockchain platform will allow to establish the origin of such products quickly, while in the current conditions this "task is practically irresolvable".

Earlier experts of the Center for Disease Control warned citizens about the danger of eating a salad grown near the town of Yuma, Arizona. Walnart's vice president of food safety Frank Yiannas said that now customers can hardly determine where the products they offered were manufactured.

But it was difficult for consumers to know how to determine where their lettuce was grown. None of the bags of salad had ‘Yuma, Arizona’ on them. In the future, using the technology we’re requiring, a customer could potentially scan a bag of salad and know with certainty where it came from.

Frank Yiannas

VP of Food Safety, Walmart

The first phase of the program involves ensuring "one-step traceability" by direct suppliers by the end of January. Other companies that perform the role of intermediaries should implement the system integration until the end of September next year across the vertical. 

Pure Bit to Refund Investors' Money

Another cryptocurrency scam storu may have happy ending
15 November 2018   70

The founders of the South Korean exchange Pure Bit, who were suspected of stealing investors' money, announced the return of funds.

According to the local edition of BlockchainROK, representatives of the exchange have already partially returned the money to some users and pledged to return all other funds.

On November 4, the exchange team launched the ICO with the goal of collecting about $ 30 million to create a crypto exchange. However, on November 9, Pure Bit closed the site, said goodbye to its investors and removed everyone from the group in the KakaoTalk messenger. Also, the founders of the exchange withdrew funds from the account that was used for ICO.

According to CCN, one of the issues traced the Ethereum address of the exchange and asked Upbit to block the account and freeze the funds. Upbit fulfilled this request.

This is Pure Bit. First off, I would like to apologize to everyone that was affected by the ICO. Since November 5, I raked in 16,000 ETH and did not open a crypto exchange as promised. I kicked out everyone in our social media chat groups and disappeared without any message. I negatively affected investors in the project psychologically and financially. I made an unforgivable mistake that cannot be turned around, blinded by money. It has been less than a day and I have already started to suffer from guilt. Although it cannot be compared with the hardship faced by the investors, I also felt significant guilt. I sincerely apologize to all of the investors in the ICO who were affected by the operation.

CEO of Pure Bit

The founder of Pure Bit also notified that he would return ETH 16,000 to depositors without taking into account the payment of services to a third-party company that organized ICO.