Blockchain, the technology underpinning bitcoin and other cryptocurrencies, for years has been viewed by some companies as a way to drive industry-transforming projects, among them the tracking of assets through complex supply chains.
So far, that hasn’t happened.
The latest effort to run aground was that of A.P. Moller-Maersk A/S and International Business Machines Corp., which hoped to follow shipments via the blockchain. Last month, Maersk said the project would be discontinued. Another big effort, Walmart Inc.’s attempt to track groceries on the blockchain, continues, but slowly. ...
Others have tried with mixed results.
In 2018, Walmart partnered with IBM to start tracking its produce items through blockchain. The effort began with leafy greens, and in the four years since has added just one more item: green bell peppers.
Walmart said it took time to get buy-in from suppliers who found the onboarding process daunting. Many didn’t have digital record-keeping systems and had to make large upfront investments before they could start using blockchain, Walmart said. ...
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