Coin Currency News Est. 2014

Bitcoin dropped 15% at the end of November, pushing the rest of the altcoins down with it. This is both a good and bad situation for investors depending on how you look at it.

First, if you want to buy, then this is a good time because the price is lower than average, but if you are selling, then you may be taking a loss if you purchased at a higher price.

It is officially safe to say that the Blockchain, and Bitcoin, and cryptocurrencies are now the wave of the future since many of the largest corporations have engaged in developing and deploying the technology within their organizations.

Some of the latest include Wal-Mart who recently created a new food transport service.

Tech Crunch has more:

Walmart has been working with IBM on a food safety blockchain solution and today it announced it’s requiring that all suppliers of leafy green vegetable for Sam’s and Walmart upload their data to the blockchain by September 2019 .

Most supply chains are bogged down in manual processes. This makes it difficult and time consuming to track down an issue should one like the E. coli romaine lettuce problem from last spring rear its head. By placing a supply chain on the blockchain, it makes the process more traceable, transparent and fully digital. Each node on the blockchain could represent an entity that has handled the food on the way to the store, making it much easier and faster to see if one of the affected farms sold infected supply to a particular location with much greater precision.

Walmart has been working with IBM for over a year on using the blockchain to digitize the food supply chain process. In fact, supply chain is one of the premiere business use cases for blockchain (beyond digital currency). Walmart is using the IBM Food Trust Solution, specifically developed for this use case.

“We built the IBM Food Trust solution using IBM Blockchain Platform, which is a tool or capability that IBM has built to help companies build, govern and run blockchain networks. It’s built using Hyperledger Fabric (the open source digital ledger technology) and it runs on IBM Cloud,” Bridget van Kralingen, IBM’s senior VP for Global Industries, Platforms and Blockchain explained.

Before moving the process to the blockchain, it typically took approximately 7 days to trace the source of food. With the blockchain, it’s been reduced to 2.2 seconds. That substantially reduces the likelihood  that infected food will reach the consumer.