Global services firm Accenture has teamed up with global giant firms including Mastercard and Amazon to build its blockchain-based circular supply chain, aiming at increasing the sustainability and fairness of global supply chain.
Accenture has been well-known as a pioneer in applying blockchain and digital ledger technology in business activities. The firm is currently taking the technology advantages to leverage circular supply chain capabilities. This comprehensive management method is expected to exclude waste and improve sustainability for the environment.
During the announcement, Accenture also informed its partnership with major global firms including Amazon Web Services, international development organization Mercy Corps, blockchain supply chain firm Everledger, and multinational financial services corporation Mastercard.
Furthermore, the new capability is able to enhance the effectiveness of inventory and waste management, legitimacy of products and transparency across the supply chain activities. The new blockchain-enabled circular supply chain will also allow customers to identify growers and small-scale providers on the supply chain.
Recently, automobile giant Mercedes-Benz has developed a blockchain-based prototype jointly with Icertis to enhance transparency in its procurement supply chain. Earlier, French President Emmanuel Macron has also proposed the idea of using blockchain technology to leverage supply chain management in the European agriculture sector, reported by The Crypto Sight on Feb 27.