Walmart Canada develops a blockchain-based payment solution for its carriers

Walmart Canada has developed a blockchain-based payment network that managers real-time invoicing, payments and settlement for its carriers, third-party trucking companies that transport inventory to over 400 Walmart retail stores across Canada. The new blockchain-based system tracks deliveries, verify transactions and automate payments and reconciliation among Walmart Canada and its carriers.

The solution will be accessible using a web portal and an easy to use mobile application for all Walmart Canada’s third-party carriers by February 1, 2020. The system will connect with near 70 Walmart Canada’s carrier partners enabling synchronization of all supply chain and logistics data in real-time on the shared ledger. Once live, it would mark the launch of the first enterprise full production blockchain solution at a large scale.

Need for a blockchain-based payment solution:

Walmart Canada’s currently has more than 4,500 associates and drivers moving thousands of items daily from distribution or inventory sites to stores across Canada. With 8.75 million square feet of the distribution center, Walmart Canada moves more than 853 million cases of merchandise annually.

These goods are transported by a combination of 3rd party fleet as well as Walmart Canada’s own fleet of carriers. Each third-party carrier tracks approximately 200 data points per shipment. Now automating this data collection and management using blockchain results in a significant cost-saving.

John Bayliss, senior vice-president, logistics and supply chain, Walmart Canada, says, “Our carrier partners move over 500,000 loads of inventory nationally, which creates an extraordinary volume of transaction data. This new dynamic and interactive blockchain technology platform is creating complete transparency between Walmart Canada and all of our carrier partners.”

Walmart Canada designed and developed the blockchain-based freight and payment network in partnership with DLT Labs. Bison Transport was the partnering carrier in the pilot of this new system.

Walmart is one of the enterprises actively researching and developing blockchain-based solutions to streamline its supply chain and logistics operational processes. Walmart is also developing its own digital currency ‘WMT’, a USD pegged stable coin that its customers can utilize to buy goods at Walmart stores.