Accenture, a global professional services company in collaboration with Mastercard, Everledger, Amazon Web Services, and Mercy Corps has introduced a “circular supply chain capability” to enable consumers to reward small scale producers and bring about transparency along the supply chain, reports Newsroom on on February 25.
Supply chain Traceability
Per the report, Accenture has partnered with Mastercard, Everledger, Amazon Web Services, and Mercy Corps to introduce a circular supply chain capability which uses blockchain, payments, and digital identity technologies.
Further more there are products that promote ethical and environmental practices as they move along the chain. That being so, the circular supply chain capability will help end users to trace the source of products they use such as coffee. They will also be able to appreciate and encourage small scale producers by directly sending them tips.
In the case of the latter, the use of blockchain enables a farmer to be linked to their products using a unique identifier. The identifier can be used to trace how the goods left the farm, to the large scale supplier, distributors, and retailers, and finally to supermarkets.
Consumers, who are about to purchase these products at stores can then scan the label in order to verify its authenticity. These end users can also reward farmers thanks to a biometric payment mechanism which allows funds to go directly to the linked farmer.
Encouraging Farmers and Suppliers to Use Appropriate Measures
Asides from enabling producers to be compensated for their products, the circular supply chain capability will reportedly, encourage farmers and suppliers to use appropriate measures in moving their products given that the movement of these goods can be tracked.
There are also potential benefits it can provide to governments, non-governmental organizations and large global enterprises by enabling them to manage issues about waste, accountability, and information transparency.
David Treat, managing director at Accenture said:
“Our identity capabilities are already empowering millions of users around the globe to access essential services like healthcare, banking, and travel,”
In respect to this, it can be said that blockchain is being massively adopted in the Agricultural sector.
BTCManager on January 28, 2019 reported of a Ugandan coffee company that is using this modern technology to aid in the certification of coffee shipments.
Likewise, a report on September 27, 2018, revealed that dairy farmers in the United States are exploring blockchain technology for their supply chain management.