Home News Blockchain Target Announces That It is Set to Create its Own Blockchain

Target Announces That It is Set to Create its Own Blockchain

June 11, 2019 16:00
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United States-based retailer, Target, announced that it was creating an open source blockchain source for its supply chain tracking. The blog post was penned down by the company’s VP of architecture, Joel Crabb, a couple of months ago.

The blog post said, “In mid-2018, Target began a blockchain proof of concept to help manage the certification of suppliers in our own branded paper product manufacturing. In working directly with the forest managers and certification boards, we learned that standing up a blockchain is simple from a technology standpoint, but difficult in deciding what data should live on the distributed ledger. This work on a certification blockchain was recently open sourced as ConsenSource! As ConsenSource progressed, Cargill’s work in creating supply chain middleware to store data and transactions on a blockchain came to our attention.”

It stated that, Cargill and Intel took the project to Hyperledger, which is an open source collaborative under Linux and the blockchain project became Hyperledger Grid.

Crabb said, “Working directly with one of our largest food suppliers will allow Target and all other participants to learn from one another as blockchain technologies mature. This also gives us an instant use case in determining which data to share and how to govern a multi-enterprise, blockchain-backed distributed ledger. Solving distributed transactions within our own ecosystems was a hard task; imagine solving distributed transactions with several companies at once!”

Target may be the second retail giant to tinker around with blockchain, after Walmart. As we had reported sometime last year, when Walmart announced that it has asked its suppliers of green produce to integrate a blockchain-based system with their business. The system has been built by IBM, and the suppliers had been given the deadline of September 2019 to integrate it.

At the time, they had said, “Walmart Inc. is pleased to announce the development of a new blockchain service WalmartLeafy.com, the decentralized financial asset management network, to realize the world’s most reliable retail money transfer system and the ability to finalize transactions in less than 2 seconds. Suppliers will transition ecommerce payments from cash to digital on the Ethereum network in the form of ERC20 Tokens.”

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