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   842

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. 

Facebook to Launch GlobalCoin in 2020, BCC Says

Facebook consults with representatives of the US Treasury Department and Bank of England  about regulating the initiative named Libra
24 May 2019   43

Operator of the world's largest social network Facebook Inc. will launch a new payment network based on its own cryptocurrency in the “dozen countries” in the first quarter of 2020, the BBC reports.

The publication claims that Facebook consults with representatives of the US Treasury Department and Bank of England Governor Mark Carney about regulating the initiative, code-named Libra.

At the same time, the Financial Times reported that Facebook is already in talks about listing GlobalCoin on the American exchanges Gemini and Coinbase. 

Sources of the publication said that Facebook is discussing with the trading firms Jump and DRW the prospects of market-making and liquidity.

Previously, the media claimed that the company is also in talks to support the initiative with Western Union, Visa and Mastercard.

Testing the network is supposedly scheduled for the third quarter of this year.

On May 2, Facebook registered Libra Networks in Geneva, Switzerland. Its profile involves the development of infrastructure and software, in particular, related to investment activities, payment transactions, financing, identity management, data analysis, Big Data, blockchain and other technologies.