Does the Blockchain suggest new prospects for Amazon, Walmart and Carrefour?

The main idea conveyed through the development of Blockchain technology was to provide Bitcoin with a real backbone of financial information for its transactions. Cryptocurrency transactions would be secured to the maximum thanks to the distributed ledgers, without recourse to financial institutions advocating a centralized system, such as banks.

Later, the use of the Blockchain has evolved into multiple functions, including business management such as record keeping, financial services, supply chain management and more. Its adoption has also become widespread in several sectors.

As emerging technology applies to the professional realm, industry stakeholders believe that its potential would be further enhanced. Many companies - including Walmart and Carrefour - are becoming aware of this. Walmart is a global giant in discount sales. Headquartered in the United States, the company is considering integrating blockchain technology into the supply of its live food business. Its main focus is on reducing waste and contamination, as well as improving transparency. Carrefour is a giant in supermarkets, hypermarkets, e-commerce, etc., located in more than 24 countries around the world. The company already uses the blockchain for food traceability farm poultry in Auvergne, and this system will be extended to eggs, cheese, milk, oranges, tomatoes and ground beef.

The sharing economy

The CEO of Coinnect SA, Massimiliano Rijllo believes that in addition to asset and payment management, Blockchain technology should further revolutionize the sharing economy. It would allow direct peer-to-peer exchanges and trust.

"We have seen many projects related to payment, digital asset management and digital identity. These are certainly important applications of the Blockchain. Nevertheless, there are many areas where the potential of Blockchain is still underestimated. In my opinion, it is important to mention the sharing economy and how the Blockchain will allow a more direct and reliable P2P services exchange, " he said.

The Blockchain is also operated by Amazon , the world's leading provider of ecommerce and cloud computing services. Recently, the e-commerce giant has created AWS Blockchain templates (Amazon Web Services) providing users with predefined frameworks that make it easy to create blockchain-based projects. Waited for a while by the users, its success is felt although this last evolution was anticipated by some actors of the industry.

Chris Butler, President and Co -Founder of URAllowance, commented :

Amazon Web Services exploiting the Blockchain is another development that leaves to wonder what took so much time.

With service fees and updates from Amazon, the company has developed a smart strategy that will increase the number of users and revenues from the Blockchain. "The free distribution of Blockchain models to customers is a big help," says Butler.

The Blockchain Revolution

Blockchain technology is a more or less recent concept, many are skeptical and especially taking into account its direct attachment to cryptocurrencies. The adoption of Amazon and Walmart will surely contribute to the acceptance of a large number of companies, which still doubt the potential of Blockchain. At the same time, consumers may have a growing interest in the technology behind crypto-currencies.

Amazon offers easy access to the Blockchain. For this reason, it is expected that the world of cryptocurrency is moving towards a Blockchain revolution with a thriving sharing economy, which will open up a world of financial possibilities where anything can be monetizable. The Brookings Institute estimates that by 2025, the sharing economy will control a market share of more than $ 335 billion.

Jeff Hood, the co-founder of Vantage Token, said :

The direction in which Amazon and Walmart are focused, supported by Blockchain initiatives, will have a positive effect on the technological environment. AWS and its framework will enable businesses to reap the benefits of Blockchain without having to overcome the many barriers and barriers to entry. Increasingly widespread adoption is a positive element for our industry.

By David Drake, and augmented by CanardCoinCoin

Do you think that the adoption of Amazon and Walmart will have a direct impact on the global adoption of the Blockchain? Tell us your opinion in the comments section below.