A variety of entities have been experimenting with blockchain for different use cases.
Some in the healthcare field have been looking into the technology to help securely store patient data. Others think it could be a valuable tool to facilitate trade in a post-Brexit world between Ireland and Northern Ireland.
Blockchain has long been heralded as a major solution for issues plaguing the supply chain world. Recent use cases seem to suggest it’s catching on in the industry.
Bringing Lettuce Onto The Blockchain
In late September, CryptoGlobe reported on efforts by Walmart to come up with a blockchain-based food safety program with IBM. The retail giant is now requiring all lettuce suppliers to record information on the blockchain solution by September 2019.
The pivot to blockchain primarily came after an outbreak of E. coli sickened more than 200 people back in April.
A big issue when trying to quell an outbreak of foodborne illness is trying to figure out which batches of food are tainted, and then swiftly removing them from the market before a sale takes place. According to Walmart, a blockchain-based supply chain would slash the food identification time from 7 days to 2.2 seconds.
Revolutionizing The Supply Chain Industry
The supply chain world is a complex ecosystem that requires companies to jump over hurdles to coordinate across long distances.
A growing number of people think blockchain could securely and swiftly smooth over some of these stumbling blocks.
When asked about the situation with Walmart, a Penn State Harrisburg Professor of supply chain management expressed optimism about blockchain’s utility. Richard Young said it “makes sense in my mind” for tracking in a scenario where Walmart is trying to manage produce since there are a large number of suppliers.
Michigan State University Professor of supply chain management Tobias Schoenherr pointed out how early trials of blockchain seemed to be promising for the supply chain industry.
According to Schoenherr:
I think a lot of learning still has to take place to make it more mainstream, but I think overall it is here to stay.