Blockchain tech gives ‘illusion of traceability’ for retailers

Blockchain systems are great in theory but there’s no guarantee that they will deliver for the likes of Walmart.

That’s the view of PwC Agribusiness Leader Craig Heraghty. In an interview with Tech Wire Asia, he said: “The weakest link in the chain is not blockchain or any technology, the weakest link is the piece of sticky tape that puts the label on the package. You have to think like a fraudster and see where you can copy a label or a QR code.”

While Heraghty didn’t specify any particular blockchain solution as a problem, he commented that “the illusion of traceability [provided by blockchain-powered systems] is a worrying trend”.

Ultimately, Tech Wire Asia says, it will be the responsibility of retailers to uphold and defend their blockchain system. “Nothing can prevent dishonest shopkeepers from tampering with labels and QR codes, but when supermarkets build and deploy such systems, it is their duty to make sure that the entire chain is foolproof,” it states.

“Supermarkets — such as Walmart and Coles — who are already experimenting with the technology are sure to find a way to guarantee the trust that their blockchain system is intended to provide, gaining an edge on competitors in the market,” it concludes.