Global professional services firm Accenture is working with Mastercard, Amazon Web Services, Everledger and Mercy Corps to introduce a blockchain-based circular supply chain. According to a February 25 press release, the company wants to leverage digital identity, payments and blockchain to directly reward sustainable practices of small-scale growers and suppliers.
The partnership with global leaders such as Mastercard and Amazon will enable Accenture to explore solutions that empower consumers, enable transparency and promote financial inclusion for small-scale producers, the company said in the release.
The main goal of the project is to enable consumers to connect with small-scale suppliers at the base of the supply chain pyramid. To address the needs of the consumer, Accenture combined blockchain, digital identity, and payment technologies. This, the company said, will allow customers to identify individual producers who use sustainable methods and financially reward them with a “tip” made by direct payment.
In addition to connecting customers with small-scale producers, the platform will enable both manufacturers and retailers to better manage inventory, reduce waste, and ensure the authenticity of produce.
David Treat, a managing director and global blockchain lead at Accenture, stated that applying blockchain in circular supply chain capability allows the business industry to rethink global supply chains.