Retail Giant Target Developing a Blockchain for Supply Chain

US-based retail giant Target is the latest big name to enter the blockchain space. The company has been working on an open source blockchain project to manage its supply chain network. Target will also support the Hyperledger Grid project, an open source collaborative project led by its supplier Cargill.

According to a blog post, Target has been working on a blockchain proof of concept to help manage certification of suppliers since mid-2018. Target hopes to learn more about blockchain technology through its participation in the Hyperledger Grid.

The retailer is trying to understand the data that needs to stored on the distributed ledger as well as the governance of a multi-enterprise, blockchain network.

Hyperledger Grid is a project which seeks to streamline supply chain infrastructure with the help of distributed ledger technology. It is good to see big companies like Target embracing blockchain technology.

(Image Credit: Flickr)

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