Target developing Blockchain-powered solution for Supply Chain Management

U.S. retail giant, Target, has low-key been working on a blockchain-powered solution for supply chain management.

It recently open-sourced the project as a blockchain solution for suppliers certification, dubbed ConsenSource, according to the company’s blog. It has also offered its support to the Hyperledger Grid project along with Intel and Bitwise IO.

Vice president of Target’s architecture, Joel Crabb, in the blog post said, “I’m proud that Target will support the Hyperledger Grid project, and that we’re committing dedicated engineering resources to build out components in the Grid architecture!”

According to the blog post, the Minnesota-based retailer has been working on a blockchain proof-of-concept since mid-2018. With the primary focus being on the certification of suppliers for the company’s own paper manufacturing, Target has been “working directly with the forest managers and certification boards” studying the technology and trying to figure out what data can be shared on a distributed ledger, Crabb wrote.

With this, Target has been recognizing the benefits of open-source projects, while even joining some.

The blog reads:

“Many companies – including Target – see the most potential for enterprise blockchain initiatives as open source. Open-source projects require all participating parties to define the governance model collectively from the outset, so companies then can focus their time working on blockchain-based solutions that will lead to greater speed, transparency and cost savings.”

According to Target’s career page, Target is now looking for a blockchain engineer and systems developer, to boost the DLT-related work. Once on-boarded, the new engineer will contribute to ConsenSource and the Hyperledger Grid, developing “distributed ledger systems, protocols, smart contracts, CLI’s, and RESTful APIs in an open source environment,”

 


About Bank Of Hodlers

Bank of Hodlers is building a customer-centric bank on the blockchain, by providing financial services like cryptocurrency-backed loans and cryptocurrency-backed cards.

We have recently launched our asset-backed lending product where you can earn interest on your BTC, ETH, TUSD and DAI. You also have the option to borrow DAI against Ethereum. You can sign up to the platform by clicking here: app.bankofhodlers.com/register.

 

crypto blog

Want to share your thoughts on this?

Up ↑

%d bloggers like this: