Walmart Canada and DLT Labs™ have announced the launch of the world’s largest full production blockchain-based freight and payment network. This system will be using blockchain technology to track deliveries, verify transactions and automate payments and reconcilation among Walmart Canada and its carriers. All the Walmart Canada third party carriers are scared you’ll need to be live by February 1, 2020.
Walmart Canada has more than 400 stores and serve more than 1.2 million customers each day. Walmart Canada is one of the Canada’s largest employers and it is amongst the countries top 10 most influential brands.
DLT Labs™ is a global leader in development and delivery of enterprise blockchain solutions and technologies as well as a Pioneer in the creation and implementation of standards for application development.
Loudoun Owen, the CEO of DLT Labs™mentioned , “The scope has increased and will continue to increase,” He also added, “This is the type of technology that has the capacity for growing and enveloping the various systems around it. The objective here was to try and properly integrate, on a transparent and fair basis, all of the information surrounding transportation and payments.”
Oven also mentioned, “We believe this will go viral.” Owen added, Walmart is a global leader in innovation, whether rent less focus on improving people lives and DLT Labs is delighted to partner with such an extraordinary organization to bring the world’s first and largest blockchain solution for industry into production.
John Bayliss, Senior Vice President, logistics and supply chain at Walmart said,” The company is dedicated to efficiency across its business, including most importantly in IT supply chain and logistics management.”
The technology will have a lot of direct benefits of freight and payment solution such as:Data capture and integrity, faster transaction time, will eliminate disputes, will help in cost reduction and also help in better budgeting and planning.
This technology will be accessible to them as a web portal as well as mobile application.