Forbes reported that Walmart Canada and DLT Labs released the world’s largest full production blockchain solution for any industrial application.
The blockchain-based freight #invoice and #payment reconciliation solution is rolling out across Walmart Canada’s 60 transportation carriers to increase trust, efficiencies and savings between Walmart and its carriers. All carriers in the nation-wide network will be on-boarded by February 1st.
Three goals:
1. Resolve carrier payment issues.
2. Drive efficiency in the ways of working today.
3. Increase visibility and trust in the freight payment process.
Loudon Owen, CEO of DLT Labs: “The new system uses distributed ledger technology to track deliveries, verify transactions, and streamline the payment and reconciliation process among Walmart Canada and its carriers that deliver goods to over 400 retail stores across Canada annually.”
#smartmouth
What is DLT?
DLT derives from “Distributed Ledger Technology”, a supercategory for blockchain-technology. Blockchain: data stored in chain of blocks.
Other DLTs: #hashgraph (Hedera) and #tangle.
#ReturnOnSociety > #RoI
Pic: John Bayliss and Loudon Owen
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