VeChain, in partnership with Walmart China, has achieved a remarkable milestone, surpassing 200 million transactions on their private network known as the Walmart China Blockchain Traceability Platform. This platform, built on the VeChainThor blockchain in 2019, has played a pivotal role in revolutionizing the food industry by providing safer and more traceable food solutions.
This achievement underscores the power of blockchain technology in enhancing transparency and accountability in supply chains. By leveraging the blockchain, VeChain has helped Walmart China align with its sustainability goals and ensure the traceability of products from their origin to store shelves. Customers can scan QR codes on products to access real-time information.
It is noteworthy that while the Walmart China blockchain traceability platform has recorded over 200 million transactions, the VeChain mainnet itself has seen around 52.84 million transactions. This highlights the platform’s significance in the retail sector and its growing influence in the broader blockchain landscape.
The collaboration between VeChain and Walmart began in 2019, focusing on enhancing the traceability of products and providing customers with valuable information about the items they purchase. Over time, the partnership has expanded, with 23 product lines integrated into the traceability platform. This expansion demonstrates the real-world applicability of blockchain solutions in the retail sector.
The success of this partnership has not gone unnoticed, as hundreds of Walmart China customers have utilized VeChain’s technology to track products and gain access to additional product details. Beyond food traceability, VeChain’s technology has found applications in various industries, including sports and fashion.
VeChain collaborated with Internazionali BNL d’Italia in the sports sector to develop VechainThor-powered trophies embedded with NFC chips and assigned NFTs. This innovation enhances the authenticity and value of sports memorabilia.
Furthermore, in November 2023, VeChain partnered with the French sports fashion brand Venum to create an apparel line that utilizes NFT and NFC technologies. Hence, it ensures the authenticity and origin of Venum’s hoodies, vests, and T-shirts, giving consumers confidence in their purchases.
As VeChain starts the year on a high note, it’s clear that blockchain technology continues to drive innovation across industries, offering solutions for transparency, traceability, and authenticity that benefit both businesses and consumers alike. The partnership with Walmart China serves as a shining example of the potential of blockchain to transform traditional business practices and enhance customer experiences.