In recent years, a lot of large and small businesses have entered the blockchain supply chain management market. From Walmart to Starbucks, businesses are working hard to streamline processes, interoperate data, and improve the security, openness, and immutability of their supply chains. The Minnesota-based company, which is the eighth-largest US retailer and has over 1,850 locations across North America, has apparently been working on a blockchain-powered supply chain management solution for the past 12 months (SCM).
Target Joined ConsenSource:
Target‘s brand-new blockchain venture, “ConsenSource,” aims to upend the supply chain management system. The ConsenSource project was established in 2018 and has since accelerated its development plan to support the Hyperledger Grid Project. Blockchain technologies called ConsenSource can assist confirm that goods are supplied responsibly from approved facilities. This program specifically acts as a platform for standardizing the verification and display of supplier certificates and audit data between standards organizations, certification bodies, and manufacturing facilities.
The ConsenSource Repository Includes Several Components:
- A transaction processor to manage the transaction logic for the certification registry
- A unique REST API that offers endpoints for accessing user data, state data, and blockchain data
- A blockchain event subscriber that keeps track of blockchain events and analyses the data of the events before saving it in an off-chain monitoring database.
- Various client web apps, including standards bodies, certification bodies, factories, and shops, to demonstrate the kinds of interactions each entity might have with the ConsenSource application.
- A command-line interface for creating state objects such as agents, organizations, certificates, standards, and accreditations.
Target Supports Hyperledger Grid Project
More recently Target pledged to support the Hyperledger Grid project, a supply chain framework that earlier saw participation from food corporation Cargill, one of Target’s suppliers, together with Intel and blockchain startup Bitwise.io.
Hyperledger, a blockchain initiative from the Linus Foundation, launched a brand-new platform called Hyperledger Grid in late 2018. This Grid is designed to aid businesses in hastening the development of ledger-based outcomes capable of handling any cross-industry scenario. In plain English, Hyperledger Grid is a collection of technologies, frameworks, and libraries that collaborate to provide organisations with the tools they need to solve supply chain problems across a range of markets and sectors.
Grid combines the many elements from the Hyperledger ecosystem to create a working data information stack. Grid, in contrast to other blockchain systems, seeks to provide businesses with a higher level of intelligence, including supply chain-specific data types, data models, and standards. It also aids businesses in resolving relationships between multiple parties.
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