News
New Industrial Blockchain Solution Launched by Walmart Canada, DLT Labs
On November 14 Walmart Canada and DLT Labs announced the roll-out of a new blockchain-based freight and payment network that they're calling the "world's largest full blockchain solution for any industrial application."
The real-time system will provide a number of services for Walmart Canada, including delivery tracking, transaction verification, payment automation and reconciliation, and work between carriers and Walmart's retail stores.
"The new blockchain-based freight and payment network manages, integrates and synchronizes all the supply chain and logistics data....between Walmart Canada and its fleet of third-party trucks on a shared ledger," the company explained. "The solution also automates the myriad necessary calculations enabling real-time invoicing, payments and settlement. At the same time, it seamlessly integrates with each company's legacy systems, so organizations can continue to follow their existing processes without retraining or a new investment in technology."
"Walmart Canada's distribution centers are hubs of activity, with more than 4,500 associates and drivers moving thousands of items daily from sites located in Calgary, Mississauga and Cornwall to stores from coast to coast across Canada. Walmart Canada operates 8.75 million square feet of distribution center and moves more than 853 million cases of merchandise annually," the companies said.
The new system is schedule to go live February 1, 2020, and will be accessible to users via a Web portal and a mobile app.
About the Author
Becky Nagel is vice president of AI for 1105 Media, where she specializes in training internal and external customers on maximizing their business potential via a wide variety of generative AI technologies as well as developing cutting-edge AI content and events. She's the author of "ChatGPT Prompt 101 Guide for Business Uses," regularly leads research studies on generative AI business usage, and serves as the director of AI Boardroom, a new resource for C-level executives looking to excel in the AI era. Prior to her current position she was a technical leader for 1105 Media's Web, advertising and production teams as well as editorial director for a suite of enterprise technology publications, including serving as founding editor of PureAI.com. She has 20 years of enterprise technology journalism experience, and regularly speaks and writes about generative AI, AI, edge computing and other cutting-edge technologies. She can be reached at bnagel@1105media.com.