VeChain & Walmart - Blockchain at Global Retailer

VeChain & Walmart – Blockchain at Global Retailer

hello everyone welcome back to another episode of crypto vizor where we talk about everything cryptocurrency blockchain investing price and other news in the cryptocurrency space thanks for coming back for another video a lot of news first up retail giant wal-mart partners with the chain be easy price shoots 40% first of all if you like this type of video hit subscribe down below here on youtube also hit that notification bell that way you could be notified every time I upload a new video which is basically every single day I also have some social media and other links in the description if you want to head over there and follow or support links are in the description thanks for watching and thanks for subscribing under this new collaboration V chain will provide its entire blockchain infrastructure for real-time tracking of its products in a major announcement one of the USA's largest retail companies Walmart has joined hands with V chain blockchain platform Tom Ford the senior director of emerging technology labs PwC was the first update on this partnership V chain the shanghai-based blockchain company will be providing blockchain infrastructure to track all goods in Walmart's supply chain v chains CEO Sonny Liu soon took the opportunity to speak and said what he's waiting for an official release but in a series of tweets in the same thread he goes to confirm the news and benefits this partnership will bring he said quote I really want to wait for the official release and PwC fellows are quite proud for what we have achieved together and this is a photo of obviously Walmart at a some kind of presentation with the picture so however the deal is between V chain and retail giants Chinese subsidiary Walmart China according to local publication chain news it states that Walmart China has already tested 23 products using the B chain blockchain network the retail giant notes that in the second half of 2019 it will be testing 100 other products across multiple categories like seafood fresh meat vegetables and five it labels and it goes on and on but there is an official announcement which we're gonna get to so this is from V chain this is a tweet from their account from this morning on June 25th 2019 saying we are proud to announce that Walmart China blocked chain traceability platform is now powered by the chain Thor blockchain so guys keep in mind that this was just a matter of time before we saw a big supply chains jumping on to blockchain technology the thing is these corporations they don't have at least I don't think that they have the resources the finances or the last three or four years of research already done to get into this new technology or create their own blockchain that's why they have to kind of join with others I've worked in the corporate space prior to kind of doing this whole YouTube journey and what I could tell you is in corporate America specifically within that like retail sector I would say specifically like these big boxes like Walmart and such a lot of times they are researching and testing new technologies but a lot of times they don't have the infrastructure or the support to like build these technologies like banks are building their own block chains or their own crypto currencies where a lot of times the retail sector specifically like Walmart and some of the other supply chain heavy ones they are more reactionary and you know that's why they have to kind of join in with an already established blockchain now keep in mind this is Walmart China not Walmart us but we know what happens within the US a lot of things are tested and done in China first or other parts of Asia not just China before they move here and I've said this for a long time I believe it's only a matter of time before we see most of these retailers specifically the online retailers using blockchain for the supply chain to really track the product so let's get into the text this is from V chains medium and it says Walmart China takes on food safety with Chane Thor blockchain technology on June 25th in combination with Walmart China China chain store and franchise Association PwC Inner Mongolia Church in Co limited and V chain the Walmart China blockchain traceability platform built on the V chain Thor blockchain was announced at the 2019 China product safety publicity week traceability system construction seminar I guess everything in China just has a really really really ridiculously long names I mean this is the most ridiculous ridiculously long name I've ever seen on a crypto or any seminar a conference for that matter 2019 China product safety publicity week traceability systems construction seminar Wow maybe that translates better in Chinese I don't know anyway this seminar was jointly organized by Walmart China and the CCFA in Beijing the announcement of the Walmart China blockchain traceability platform came with the introduction of the first batch of 23 product lines that have been tested and launched on the platform the platform is expected to scale by another 100 product lines by the end of the year covering more than 10 category product categories including fresh meat produce rice mushrooms cooking oil etc it's expected that the world sorry that Walmart China's traceability system will see traceable fish meat account for 50% of the total sales of packaged fresh meat traceable vegetables will account for 40% of the total sales of packaged vegetables and traceable seafood will account for 12 and a half percent of the total sea sales of seafood by the end of 2020 so as you guys see Walmart China is kind of putting these products on the blockchain like fairly rapidly there's the official announcement from Walmart I clicked on it this is all translated from Chinese and it's way more in-depth so we're not going to necessarily go through all of that because it's really long but you can definitely go in and click on that v chains blockchain technology is enabling Walmart China to implement a traceable traceability strategy for products and pioneer the large scale application of block chain traceability by scanning the desired product customer can acquire detailed information including the source of scam products and the jia jia graphic location received by wal-mart logistics process product inspection report and many more data points data collection and data availability will are to be continually added to the scale the platform and its use of the blockchain technology now many companies don't do this yet i could tell you guys patron the liquor company on their bottles they actually track each bottle from i i'm pretty sure when the agave was like picked from the field where on each bottle there's like a number and if you go to the patron website you type in that number and it gives you all a history behind that bottle when it was made how it was made what kind of agave use etc etc very interesting stuff now imagine being able to do this with anything that you own or anything that you buy in the grocery store anything that you buy at Walmart that is what is being rolled out currently in Walmart China so this is some I guess pictures of the items that they test it or are going to be using and then they talk about like the signing ceremony for this and all the people involved but bottom line is Walmart China is on board with this which is huge and this is not just huge for the chain right obviously it is because the price surged after the announcement but this is important for the entire cryptocurrency community cryptocurrency and blockchain evolution of this technology think about this this is one of the largest corporations on earth and although it's a subsidiary it's not the main you know US operations I'm sure that China has huge operations as well and this is just the beginning I believe because Walmart obviously if something works they're gonna roll it out to the rest of the the organization and keep in mind Walmart is part of the retail sector which is having a very very hard time right now from a financial and economic standpoint but what Wal Mart has been doing is directly competing with Amazon joining new technologies and I think that Walmart is going to continue to be a leader I don't think that they're they have the same fate as a lot of other retailers because they're doing so many things differently so anyway that's all I have for you today hopefully you guys will like this type of video if you do hit subscribe down below that way you can be notified every time I upload a new video which is basically every single day I'd love to hear your thoughts in the comments below on Walmart and V chain and I also have other social media links down below if you want to help out the channel and click those that would be great if you need a hardware cryptocurrency wallet lecher Nano works really well it's a DA compatible link is in the description once again thank you guys for watching thanks for subscribing and I will talk to you guys on the next video have a great day


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