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The second largest U.S. retailer, Target, seeks blockchain solutions for its supply chain.

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The second largest U.S. retailer, Target, seeks blockchain solutions for its supply chain.

The second largest retailer in the United States, Target, has officially entered the blockchain field, aiming to reduce system costs and share data with partner companies, as well as to learn from each other about blockchain technology.

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According to Coindesk report, the Minnesota-based retail giant Target has been working on a blockchain-based solution for supply chain management since 2018, called ConsenSource. Recently, Target announced its participation in the Hyperledger Grid project, a supply chain framework involving food giant Cargill (one of Target's suppliers), tech giant Intel, and blockchain startup Bitwise.io.

According to the company's job postings, Target is currently looking for blockchain engineers and system developers to drive its distributed ledger technology efforts.

The job posting states:

This new role will focus on the development of the open-source projects ConsenSource and Hyperledger Grid, developing "distributed ledger systems, protocols, smart contracts" in an open-source environment.

Joel Crabb, Vice President of Architecture at Target, stated in a blog post:

From a technical standpoint, building a blockchain is easy, but determining what data should reside on a distributed ledger is the hard part. Target's open-source projects require participants to collectively define a governance model from the outset and focus on blockchain solutions to further enhance efficiency, transparency, and cost savings. I'm proud that Target is supporting Hyperledger Grid, and we are committing dedicated engineering resources to build components within the grid architecture.

Prior to this, Target's blockchain initiatives had already begun. The company hired Aarthi Srinivasan, who previously worked at JPMorgan and IBM, as Director of Personalization, Machine Learning, and Blockchain Product Management in 2016.

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