Zimprich currently sees the greatest application potential for the retail sector in logistics. He adds that an automatic recording of incoming and outgoing goods as transactions in the blockchain creates a built-in audit trail, thus an automated auditing and monitoring of the supply chain. In doing so, processes could be significantly simplified and accelerated since the inventory is always updated. That being said, the prerequisite is always that all stakeholders participate in this process and accept the system.
That’s also why pioneering stakeholders in the food retail sector and retail industry have already entered into a collaboration to increase food safety efforts. Walmart came up with the idea of using a blockchain for this and IBM handled the technical implementation. More companies are now joining the consortium.
Angel Gonzalez, Executive IT Blockchain Specialist at IBM Deutschland explains the reason behind the project: “Unfortunately, the origins of certain foods and their transit routes are still very non-transparent aspects. This potentially creates multiple versions of data at various points of the supply chain. This method no longer works if companies intend to collaborate at a global level and utilize a mutual network.“