“We’re committed to doing business in India in a way that helps drive economic opportunity in local communities across the country,” said Paul Dyck, vice president of corporate affairs for Walmart Inc., adding, “Through this pilot we are working with our partners and leveraging our global strengths to provide access to blockchain’s innovative technology, which will benefit local farmers and producers, help to transform the food system.”
Blockchain technology enables the digitising of supply chains to improve the traceability, monitoring of produce from farm to fork, and minimising the various records and documentation required - so making the movement of goods globally much more efficient. It also potentially makes it much easier for a global bemouth, like Walmart, to start to pay for the goods with its digital currency, so combining payments with the movement of produce.
Could these types of initiatives start to align the interests of capitalist corporations like Walmart with subsistence farmers in countries like India and so encourage more sustainable and environmentally friendly practices? Walmart’s customers will be able to know where, when, how and who is producing the food on their plate and with this closer identity, hopefully, there will be a greater concern for the longevity of farming methods.