• The first batch of 23 product lines are live on the Walmart China Blockchain Traceability Platform (via Walmart China).
    Asia & Australia,  Technology

    Walmart China turns to blockchain to reassure consumers wary of food safety

    Working with PwC and blockchain firm VeChain to build trust in a frequently unsafe supply chain

    Walmart China announced on June 25 that it has partnered with a local trade association, a beef producer, consulting firm PricewaterhouseCoopers (PwC), and blockchain firm VeChain to create the Walmart China Blockchain Traceability Platform.

  • As cool as this may seem, trading power on the blockchain should hopefully not look like this (via Pixabay).
    Technology

    Fujitsu’s blockchain project lets consumers trade electricity with each other

    B-to-B sales by power customers can take the strain off the grid and encourage green energy production

    A new blockchain-based energy trading platform that encourages corporate energy consumers to trade power among themselves when the grid is strained by high demand led to a 40 percent improvement in efficiency in a simulation, Japanese multinational Fujitsu announced on Jan. 30.

  • A pump jack in a canola field (via Shutterstock)
    Technology

    With Vakt investment, five of the biggest energy companies bet on blockchain

    The oil and gas industry is embracing blockchain technology for everything from tracking products to financing sales

    With the announcement on Jan. 16 that three major oil and gas firms including Chevron, Total, and Reliance Industries have joined Vakt, the energy-industry enterprise blockchain company now has five of the 10 largest oil firms by market capitalization on board.

  • car wreck
    Innovators,  Technology

    As industry contemplates DLT, State Farm test drives blockchain technology for auto insurance

    Streamlining complex policies and processes, as well as fraud prevention, are also prime insurance uses

    On Dec. 10, insurance giant State Farm announced that it is testing a blockchain-based solution to improve the speed and accuracy with which auto insurance claims are settled. In testing the solution, the largest provider of auto insurance in the United States is following up on several years of study and interest by the insurance industry in ways the distributed ledger technology underlying blockchain and cryptocurrencies can benefit various lines of coverage offered by the multi-trillion-dollar industry. Specifically, State Farm is looking into blockchain’s use in subrogation, the process by which the at-fault insurer compensates the injured party’s insurer for costs paid to settle a damages claim. “Today, subrogation is…