Walmart’s New Venture into Blockchain
Walmart, that friendly giant we all love to hate (or love?), has made a groundbreaking move by joining the open-source blockchain consortium Hyperledger. Announced at the Hyperledger Global Forum 2020 in sunny Phoenix, Arizona, this membership is among eight new additions to the platform, and Walmart’s not just tiptoeing into the water—they’re cannonballing in!
The Buzz Behind the Move
Sanjay Radhakrishnan, Walmart’s vice president of Global Tech, shared his enthusiasm, saying:
“We’ve seen strong results through our various deployments of blockchain, and believe staying involved in open source communities will further transform the future of our business.”
Well, Sanjay, if you’re excited, then so are we! This new step may just help Walmart continue to innovate amidst the flurry of competition in retail.
The Story of Hyperledger
Hyperledger has been around since 2016, hosted by none other than the Linux Foundation. Its mission—should it choose to accept it—is to progress cross-industry blockchain technologies, and it’s not alone. Tech titans like IBM and Intel have lent their mighty muscles to the cause, making Hyperledger a formidable platform in the blockchain galaxy.
New Members and Service Providers
The opening day of the Hyperledger Forum also introduced a handful of new members, including Aiou Technology from the blockchain network IOST, the business-to-business smart solutions firm Clear, and blockchain service provider Tangem. We can only assume these folks were sipping lemonade and shaking hands while plotting their blockchain dominance.
Additionally, six new Hyperledger Certified Service Providers joined the ranks: Beijing Proinsight Technology, Kompitech, LimeChain, Mindtree, Xoaa, and Zhigui. As Brian Behlendor, executive director at Hyperledger, put it:
“Adding this great mix of new members and HCSPs is a great opening act for Hyperledger Global Forum.”
Sounds like a rock concert, but for tech nerds!
Walmart’s History with Blockchain
Back in 2016, Walmart and blockchain go way back, as the retail giant first dipped its toes into the tech’s waters through a partnership with IBM and Tsinghua University in China. Their pilot program centered around tracking pork in China and aimed at improving food safety—definitely no room for turning a blind eye to contamination in the pork aisle!
Since then, Walmart hasn’t just been sitting on the sidelines. They’ve filed patents ranging from drone delivery tracking systems to payments and shipping innovations. And let’s not forget Walmart’s 2019 membership with the pharmaceutical blockchain consortium, Mediledger, suggesting they are seriously committed to tackling issues like drug distribution and the pesky black market for opioids.
Conclusion: Looking Forward
Walmart’s entrance into Hyperledger is a crucial milestone not only for the company but for the entire retail sector in its quest for modernity through blockchain adoption. As they embrace this emerging technology, we can only watch with excitement (and maybe a little apprehension) to see how it reshapes their operations and our shopping experiences in the future!
