TORONTO, Ont. — Walmart Canada has launched a blockchain-based freight and payment network in collaboration DLT Labs.
The system uses distributed ledger technology to track deliveries, verify transactions and automate payments.
All of Walmart Canada’s third-party carriers will be on the network by Feb. 1, DLT Labs said Thursday.
The system manages, integrates and synchronizes all the supply chain and logistics data in real time, it said.
“Walmart is a global leader in innovation… DLT Labs is delighted to partner with such an extraordinary organization to bring the world’s first and largest blockchain solution for industry into production,” said Loudon Owen, CEO of DLT Labs.
Walmart Canada moves more than 853 million cases of merchandise annually. These goods are transported by a combination of third-party fleets as well as Walmart Canada’s own fleet of 180 tractors, 2,000 trailers and more than 350 drivers.
Each third-party trailer tracks approximately 200 data points per shipment. Automating this data collection and management using blockchain results in a significant cost-saving, DLT Labs said.
“This new dynamic and interactive blockchain technology platform is creating complete transparency between Walmart Canada and all of our carrier partners,” said John Bayliss, senior vice-president, logistics and supply chain at Walmart Canada.
“Blockchain is enabling a material advance in our smart transportation network, with expedited payments, extensive cost savings and other benefits among our supply chain.”
Bison Transport is the carrier partner in the pilot of the project.