Breaking News, Tsinghua University, Wal-Mart and IBM jointly set up the "Blockchain Food Safety Alliance (BFSA)" to develop food safety and traceable blockchain programs

Retail giant Wal-Mart and Jingdong is supported with a new food safety and traceability in China and several other companies block chain project.

In conjunction with Tsinghua University's National e-commerce Technology Laboratory and IBM, the four agencies and companies have created the Block Food Alliance (BFSA), which will seek to connect Chinese companies in the food supply chain.

According to the statement, the alliance aims to develop "a standardized way to gather food sources, safety and authenticity", and the blockchain will serve as a technology base for recording information in real time.

For Wal-Mart, the effort represented the retail giant's previous expansion in the blockchain food supply chain. In October 2016, Wal-Mart revealed that they are working with Tsinghua University and IBM to track pork products in the Chinese market. In a speech earlier this year , Wal-Mart said the result of this cooperation was " very encouraging ."

For this newly formed group, Frank Yiannas, vice president of food safety and health at Wal-Mart, said:

"As a global advocate for enhancing food safety, Wal-Mart looks forward to deepening our cooperation with IBM, Tsinghua University, JD and other companies in the food supply chain by collaborating, standardizing and adopting new and innovative technologies that we can effectively improve Traceability and transparency and help ensure that the global food system is safe for all. "
Jingdong this join is worth attention, by September this year, the number of Jingdong users reached 200 million.

Jingdong reportedly intends to import billions of dollars worth of food in the coming years, which in theory has created a large inventory of products that can be used for tracking.

Jingdong supply chain research department president Wang Yongli said:

"Around the world, especially in China, consumers are increasingly wanting to know their food sources and Jingdong is committed to using technology to promote complete transparency."