The groceries sector benefits the most from distributed ledger technologies, new study finds.
The grocery sector is responsible for nearly half of all Distributed Ledger Technology-based (DLT) supply chain projects.
UCL: grocery most active in DLT tracking
Research conducted by the University College London centre for blockchain and retail blockchain consortium and published on Aug. 4 shows that the grocery industry has the highest number of DLT-based supply chain tracking projects. Per the report, nearly half of all the projects analyzed operate within the grocery sector, while about 15% respectively operate in the healthcare and fashion industries.
Lastly, about 39% operate in other, unspecified areas. Among these, the researchers found many non-sector specific projects which either relate to functional specializations (such as logistics or supply chain) or industry-agnostic projects which are focused on a use case capable of application across multiple industries.
71% of focused projects working in grocery
Of the 105 projects studied by the researchers, 49 were focused on a given industry, with 71%, 35% and 43% concentrating only in their operating sectors in the Grocery, Fashion and Healthcare arenas respectively.
Number of DLT supply chain tracking projects | Source: UCL
As Cointelegraph reported yesterday, automaker Volvo Cars, owned by Chinese automotive group Geely, has produced electric cars with cobalt mapped on a blockchain.
At the end of June, Walmart China announced that the company was planning to use blockchain to track food through the supply chain to ensure freshness in perishable groceries.