Walmart to use blockchain technology to procure farm produce in UP

Agri produce accounts for nearly 20% of Walmart's total procurement in India, with almost 100,000 farmers linked in its backend value chain

Global retail major Walmart intends to use the cutting edge blockchain technology in procurement of farm and agri produce in Uttar Pradesh.

Walmart India president and CEO, Krish Iyer, told Business Standard that blockchain architecture would help in the validation of transactions and efficient delivery management.

The blockchain project would be implemented as a pilot in UP, where Walmart has long been engaging with the farmers both at the level of procurement of farm produce for selling as well as social connect, he informed.

“The proposal would be discussed with the state government soon before being implemented,” he said adding such a pilot had been implemented by Walmart China.

Iyer maintained Walmart intended to make greater efforts to integrate more farmers to its systems and ensuring lucrative prices for agri commodities coming to its platform.

Currently, agri produce accounts for nearly 20 per cent of Walmart’s total procurement in India, with almost 100,000 farmers linked in its backend value chain.

“We are bullish on farm produce segment and remain committed to giving decent prices to farmers, prompt payments, transparent weighing mechanism and procuring even at the end of the marketing season,” Iyer later told the media.