(Image via twitter: http://bit.ly/IBMTweetsCrypto)
IBM actually paid money to promote this post highlighting one of the great benefits commerce could gain by embracing cryptocurrencies and blockchain technology.
The tweet links to an article written on the Wall Street Journal about a test Walmart ran to see how their recall system could be updated if they integrated blockchain. Since each transaction is automatically logged on the blockchain, looking up the history of a products origin and its travel route can be done more rapidly than ever by the means of a simple scan. In a test recall they were able to trace a bad batch of mangoes back to its origin within seconds which would allow them to see exactly what other mangoes came from the same place so they can be quickly pulled from the shelf in the case of an actual recall. In a case like this, blockchain technology could have potentially saved thousands from becoming sick from a bad product and allows stores and manufacturers to get to the root of the problem quicker than ever to stop the contamination immediately instead of waiting up to 6 days just to find out where a bad product came from.
This is just one of the many uses blockchain technology can serve our society and its great news to see major companies like IBM and Walmart showing so much interest that they are already testing systems and working on integrating them into their infrastructure.
i think its safe to say after the SEC hearing came out with relatively good news and as more major companies begin taking this technology more seriously the future looks brighter than ever for the world of crypto and the world itself.
where do you think this industry is headed? My instincts tell me to the moon, or maybe to mars along with teslas roadster.
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