Accenture announced a new blockchain last Monday. This is the Circular Supply Chain, a register that links sustainable business practices with producers, suppliers, processors, sellers and consumers. A product that is fully focused on mapping the supply chain of sustainably cultivated food.
The system combines a digital identity with payment details and a blockchain. Small-scale food producers and suppliers that engage in sustainable and green practices and offer the necessary transparency are rewarded for this. For this purpose, Accenture works together with credit card giant Mastercard, cloud provider Amazon Web Services, block chain provider Everledger and non-profit organization Mercy Corps.
Renovated in a sustainable way
Roughly two-thirds of consumers want the opportunity to buy sustainably grown food from companies that use environmentally friendly production methods. However, it is difficult for consumers to find these suppliers. The Circular Supply Chain is designed to make that easier.
Not only can consumers easily find the brands that are sustainable, but there is also a reward for those producers in the form of direct payments. With the help of digital identity services, the Circular Supply Chain assures everyone that the entire production process of products on the shelves is traceable.
Everything on the map
Using unique identifiers, the history of food in the blockchain is mapped out. Every step in the production process counts, from harvesting to processing into an end product. Combined, this not only provides insight into processes, but also ensures their integrity.
Accenture’s platform is designed to help smallholder farmers in an industry where the growing complexity of the supply chain is threatening their survival. Interestingly, the 500 million small farmers worldwide are able to provide one in three people on Earth with food, but are struggling to buy food for their own families. This technology should help them by directly stimulating their sustainable practices with financial incentives.
Accenture ultimately wants to bring its blockchain to other industries, including the banking and retail sectors.This news article was automatically translated from Dutch to give Techzine.eu a head start. All news articles after September 1, 2019 are written in native English and NOT translated. All our background stories are written in native English as well. For more information read our launch article.