Walmart begins monitoring prawn export consignments from India with blockchain technology
- Walmart, the global company that runs the retail store chain, has started using blockchain technology to monitor the shipment of seagrass shipped from Andhra Pradesh to the US.
- The company says the project has just started as a trial and is “the first known use of blockchain to track shrimp shipments from India’s shrimp farmer to overseas retail establishments.”
- The company claims that this will help strengthen the supply chain of seafood products from India and strengthen the confidence of foreign customers in the consignment of Indian shrimp.
- Walmart Inc. has collaborated with IBM since 2017 on the use of blockchain technology to increase global food traceability (monitoring the shipment of food products).
- Shrimp have a major contribution in agricultural products exported from India and in this case, America is the largest market for India.
- According to the release, in 2018 India exported 46 percent of the shrimp by value to the US.
- Andhra Pradesh is a major hub for shrimps and the state government is encouraging farmers to work according to US food standards.
- The blockchain technology has the potential to transform the seafood product community.