How Walmart Uses Blockchain To Solve Supply-Chain Challenges? One of Walmart Canada's IT executives proposed automating the process by establishing a blockchain network, which would solve the issue of incompatible business systems and provide all stakeholders with a common single source of truth. However, there were critics since blockchain technology has not yet been employed in a significant, business-critical capacity. Furthermore, blockchain came in a variety of flavors. Is a public blockchain network, like those used for cryptocurrency, preferable to a private blockchain network?
Walmart Canada sought assistance from DLT Labs, a pioneer in designing and delivering innovative corporate solutions based on distributed ledger technology. Bison Transport, one of Walmart Canada's carriers, soon joined the team in charge of creating a network. After extensive testing, a pilot version including just Walmart Canada and Bison Transport went online in January 2019. It was a success, and the network, known as DL Freight, was pushed out to the 69 other carriers in March 2021. The system continually collects information at each stage, from the carrier's tender bid through proof of delivery and payment approval. This data is automatically gathered and synced in real time, and it is only available to the parties participating in the transaction.
According to all reports, the system has been a huge success. Prior to DL Freight, more than 70% of bills were challenged. Today, fewer than 1% of bills contain inconsistencies, and these disagreements are readily identified and handled. Payments are no longer delayed for weeks or months; carriers are now paid on time.