By 2025, 20% of the world's top ten retailers will use blockchain technology

By 2025, 20% of the world's top ten retailers will use blockchain technology

According to information released by blockchain research firm Gartner on April 30, by 2025, 20% of the world's top 10 retailers will use blockchain technology.

According to Gartner's research, the main advantage of blockchain for retailers is that it provides a high degree of transparency.

For retailers, this means they can use blockchain as a way to communicate reliable information to customers and retail terminals. Gartner even claims that blockchain "appears to be an ideal technology to improve the transparency and visibility of the food supply chain."

Gartner said that global retail sales are growing, and consumers now have a better understanding of the source and freshness of food and the efforts of suppliers to make sustainable development.

The report said: "If grocery retailers can provide visibility and can certify their products according to specific criteria, they will win the trust and loyalty of consumers."

Gartner also pointed out that retailers have the potential to use the data collected on the blockchain platform to quickly determine the source of recalled products.

Joanne Joliet, senior director of Gartner, believes that grocers will "lead the development of blockchain."

Many companies have applied blockchain technology to ensure their food quality.

Gartner cites Walmart, Unilever, and Nestle as examples; the former uses blockchains as a “shop-to-farm” tracking system, while the latter uses data to track food contamination.

Wal-Mart, Unilever and Nestlé are partners in the blockchain-based food tracking network IBM Food Trust. IBM Food Trust also works with Dole Food Co., Driscoll's Inc., Golden State Foods, Kroger Co., McCormick and Co., McLane Co., Tyson Foods ( Tyson Foods Inc. has partnered with Unilever NV.

Source: Nuclear Finance