Accenture revealed a “circular supply chain” using the blockchain in collaboration with Amazon, Everledger, Mercy Corps, and MasterCard, in hopes of enabling consumers to make more sustainable purchases.
Consumers will have the ability to reward producers directly with tips thanks to the blockchain’s transparency, and a digital identification management system.
Nielsen’s research has shown that two-thirds of consumers are interested in supporting sustainable farming and manufacturing providers, and this movement is picking up speed with developments with blockchain technology.
Blockchain’s ‘distributed ledger technology’ (DLT) enables farmers and consumers to interact with the transparent supply chain data, allowing for new financial systems and opportunities for profit sharing.
Accenture and its partners hope to create sustainable digital technology solutions that contribute to the billions of people around the world who are struggling with basic needs by linking them to the value chain, where they can have a bigger impact on social and environmental sustainability.
Author: Adam Sarwar