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The industry is applying Blockchain technology .(1)

 

* Food .

Recent problems in the global supply chain are posing challenges to ensuring that goods, labor and materials are safely sourced.

On June 25, Walmart China announced plans to distribute products throughout the supply chain using a Blockchain traceability platform, built on VeChain’s Thor blockchain.

Announced at the Traceability System Building Workshop during China Product Safety Week 2019 in Beijing, Walmart China indicated that 23 product lines have been tested on the Blockchain platform, expected The end of this year will add another 100 product lines.

The platform will also allow Walmart China customers to obtain detailed information regarding production by scanning a product’s barcode through a smartphone. The information provided includes product origin, geographic location, logistics process and product inspection report of Walmart.

In the announcement, Walmart representatives highlighted the ability of distributed ledger technology to ensure the quality and safety of agricultural products and strengthen consumer confidence through enhancing supply chain transparency. response, besides facilitating significant savings in production efficiency.that SurgePay’s blockchain network will allow it to access tens of thousands of new retailers.

* Jewelry, gems .

In 2003, a United Nations General Assembly Resolution established the Kimberley Process Certification Scheme (KPCS), which aims to increase transparency in the jewelry industry and limit the circulation of diamonds.

Although KPCS has received acceptance in more than 80 countries since its inception, the program has since received a lot of criticism for falling short of its goals. In December 2011, the NGO Global Witness abandoned KPCS, following endorsement of the unlimited diamond export scheme in Zimbabwe.

The agency’s mission is for Everledger to rate diamonds using grading reports provided by the Gemological Institute of America.

In 2018, De Beers Group, an international diamond mining and trading consortium, announced that it would develop a blockchain-based traceability platform called Tracr, which would seek to track diamond supply chain from mine to retail.

The platform was developed by Russian startup Bitcarat, with each diamond being assigned a unique code that is recorded on a distributed ledger. The ledger also records the history of previous transfers of ownership related to tracked diamonds.

* Stock .

Many analysts predict that STOs are poised to spur a revolution in the fundraising process. In August 2018, an online retailer, Overstock.com, raised $134 million in an ICO through the sale of its security token called tZero. In early January of this year, the company also opened a virtual currency exchange and used the only crypto asset tZero available for trading at launch.

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The industry is applying Blockchain technology .(2)