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5 blockchain myths debunked

A Google search for “blockchain” brings up nearly 300 million results. Try finding “understanding blockchain” and you’ll find a mere 152,000 references.

And there’s the innovator’s dilemma. While there’s no shortage of commentary on blockchain from supporters as well as detractors, the clash of opinions, information and misinformation has made it difficult for even a general tech enthusiast to figure out what blockchain is and isn’t.

These are five of the most prevalent myths debunked.


Volvo to trace cobalt used in electric car batteries on blockchain

European car giant Volvo has announced it will start using blockchain-tracked cobalt in electric car batteries, having reached an agreement with Chinese and South Korean suppliers.

China-based CATL and South Korea-based LG Chem, also members of the blockchain network, will provide battery equipment for new Volvo and Polestar models for the next decade.

By deploying blockchain to track cobalt used in batteries, Volvo wants to prove to customers that the material is extracted in conflict-free zones and not in areas known to exploit child labour. 


IBM and Chainyard launch cloud-based blockchain supply chain accreditation network

IBM has onboarded numerous Fortune 500 companies to the permissioned network IBM has partnered with enterprise blockchain specialist Chainyard on a blockchain network designed to improve supplier qualification, validation and life cycle information management. The permissioned-based data sharing network, called Trust Your Supplier, will store important business documents, including ISO certification, bank account information and… Read More


Nestlé launches another blockchain food tracker, despite ongoing IBM Food Trust participation

Nestlé wants to make its supply chain data accessible to everyone Food giant Nestlé has launched a blockchain platform that allows consumers to track the journeys made by food they purchase. The company, which is one of the world’s largest food companies by revenue, is working with OpenSC on the initiative. OpenSC was founded by WWF-Australia… Read More


Walmart China launches blockchain system for food safety

Food retailer says half of its fresh meat products will be tracked on blockchain platform by 2020 Walmart China and PwC have joined forces with VeChain to create a blockchain platform that tracks the quality and safety of products and agricultural produce through the food retailer’s supply chain. The system, descriptively named “The Walmart China… Read More



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