Tracking drugs or other stuff with the help of blockchain - Walmart, Carrefour

[7788bitcoin]

Walmart now teams up with Big Pharma to track drugs and at the same time french retailing company Carrefour uses blockchain to track goods what ppl buy. Is it really easier to implement blockchain into company's structure to reduce the cost and work or is it just fairy tale and total hype? What do u think? Why almost every country says about blockchain implementation but at the same time issues the number of regulations for crypto using?

It is not hype, there are many useful things that can be done through blockchain and many companies are developing things to monitor every product they manufacture to counter counterfeit goods and it will reduce cost and it will be easy to monitor the products in the market.

[pixie85]

From this news it looks as if blockchain is a hit within the corporate retail market with outfits like walmart and this other french retailer which I would imagine has a wider customer base in europe as well.
Maybe now the financial institutions will recognize what an asset using blockchain technology can be for them and hop on board to fuel the next bull run up to $100k bitcoin perhaps.

Most companies understand and recognize the usefulness of blockchain but there's also a big push to disassociate it from bitcoin. Banks and governments are trying to weaken bitcoin and corporations are kissing their asses thinking that if they go along and say they don't want bitcoin but blockchain the banks and governments will make life easier for them.

[thirdprize]

For a minute I thought that said "Taking drugs or other stuff with the help of blockchain"

[franky1]

I don't think that it's a 'true blockchain' in nature but rather a database shared in between companies to track everything and exchange information whenever needed. At most, this blockchain would only be limited to the partners and associates of the said company for viewing and adding information and nothing else. Using the word blockchain is just another marketing strategy for the public to think that these guys are really moving forward with innovation, while in reality it's just the old system branded with a new name.

in the UK and a few other places. for situations like you explained.
the buzzword they are starting to use is DLT distributed ledger technology

[eternalgloom]

It's good to know that Blockchain would be a help to track and trace illegal drug transactions but I don't think it would be easy. We all know that it will be easy for most users to keep their transactions anonymous but if drug dealers aren't that smart, it will be easy for them to track them.

I don't think you fully understand the OP, this isn't meant to track illegal drugs.
This is to prevent legal drugs to make it into the illegal circuit, by making every part of the production and distribution cycle traceable.

[xWolfx]

From this news it looks as if blockchain is a hit within the corporate retail market with outfits like walmart and this other french retailer which I would imagine has a wider customer base in europe as well.
Maybe now the financial institutions will recognize what an asset using blockchain technology can be for them and hop on board to fuel the next bull run up to $100k bitcoin perhaps.

The funny part is that this is nothing in comparison with the possibilities this technology has. However, it is definitely a big move and if Wallmart see that they like how it works they will definitely expand the implementation towards other areas and when those big retailers start using it for almost or all operations, others will follow for sure.

That will be a huge step towards the future and will open a lot of minds about the true possibilities and how the people preaching for it were not really that crazy.

[Kemarit]

Walmart now teams up with Big Pharma to track drugs and at the same time french retailing company Carrefour uses blockchain to track goods what ppl buy. Is it really easier to implement blockchain into company's structure to reduce the cost and work or is it just fairy tale and total hype? What do u think? Why almost every country says about blockchain implementation but at the same time issues the number of regulations for crypto using?

I don't know if this can really reduced that cost. Remember Walmart, I assumed used centralize databases so they could have literally hundreds if not thousands of servers that they maintained. So I doubt that they can easily migrated everything in blockchain in short span. It will took them at least a year to slowly migrated to blockchain technology if that is the direction they want to go. And migrating also cost thousands of dollars, you need to hire competent personnel, (database administrations, operations, infrastructure), so it's not that easy.

So don't say it's easy to move everything is blockchain technology because in reality, it isn't.

[mazdafunsun]

Walmart now teams up with Big Pharma to track drugs and at the same time french retailing company Carrefour uses blockchain to track goods what ppl buy. Is it really easier to implement blockchain into company's structure to reduce the cost and work or is it just fairy tale and total hype? What do u think? Why almost every country says about blockchain implementation but at the same time issues the number of regulations for crypto using?

You have to understand that crypto-currencies and blockchain usage in data validation is completely different things.
Crypto currencies are financial assets but block-chian is technology which can be used in variety of ways and does not need regulation if it is not meant for transferring money.

[bitkanu]

Crypto and blockchain is different thing you know, most of the corporation think highly of blockchain since it could be used for their system and make it a lot more efficient meanwhile crypto is opposed by many of the governments and corporations. The blockchain itself also could be implemented for various things and tracking drugs is not a wishful thinking, you see why bitcoin blockchain transaction could be traced to certain extent? I guess that's what they are going to implement.

[Msworld83]

The Walmart move on tracking will be a good move to track any drug dealing with blockchain technology which will be a good move to develop remove crypto from blacklist by government which saying the blockchain technology is be used for child trafficking and drug deal .