MasterCard, Amazon and Accenture collaborate to build a transparent blockchain supply chain

MasterCard, Amazon and Accenture collaborate to build a transparent blockchain supply chain
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Yesterday, Accenture introduced a cyclic supply chain that allowed consumers to make more sustainable choices when buying goods. Consumers can also give tips to producers and directly reward them for their choice in production. All of this is achieved through digital identity management and blockchain technology.

Accenture is working with MasterCard, Amazon Web Services, Everledger and Mercy Corps to build its supply chain capabilities. Every day, whether we want to, we interact with global supply chains, such as when we shop, these innovations can help us better navigate the system. A recent study by Nielsen shows that nearly two-thirds of Americans want a frictionless online shopping experience that wants to support more efficient and environmentally friendly agriculture and manufacturing. The problem now is that we don't have much way to understand how things are made or who made them.

Accenture Managing Director David Treat said: "In the past few years, we have focused on our long-standing identity work, focusing on more than 1 billion people in the world without any form of recognized identity. We believe that Consumers and the value created at the end of the supply chain are directly linked, helping small producers from the start is critical to truly driving social and environmental change.

The company where Treats says that Accenture and its partners are developing a A store, web, and application application on which consumers can scan a unique numeric identifier for a registered user's item. For example, scanning a label on a pair of jeans will allow customers to understand the source of their supply chain from start to finish and have the opportunity to express their gratitude to those who produce jeans. This makes the system not only beneficial to large companies that are familiar with the system, but also to individuals, such as small farmers who grow crops on small plots of land.

Tara Nathan, Executive Vice President of Humanitarian and Development at MasterCard, said: 3.4 billion people, almost half of the world's population, are still struggling to meet basic needs. We believe that digital technology is largely undeveloped. Through Kenya, India, Mexico. Working with small farmers elsewhere, we have deployed digital solutions to help drive the sustainable social impact of business we understand that collaboration is critical to this journey.

Why is the blockchain?

Blockchain provides a common An independent digital record called Distributed Bookkeeping Technology (DLT). By distributing public ledgers, Amazon, MasterCard, Accenture, consumers, and small farmers can interact with the same information without worrying about someone modifying the data.

DLT can benefit consumers and farmers throughout the supply chain, helping people cross the process by increasing transparency and more profit sharing.