New Accenture Blockchain App with Mastercard, Everledger and Mercy Corps Enables ‘Circular Supply Chain' Practices

    Accenture has decided to create a new prototype for a blockchain technology that was created in order to reward the businesses that conserve natural resources.

    According to the official announcement made by the company, Accenture is working together with Mastercard and Mercy Corps and Everledger in order to create this new product for its clients. Amazon Web Services is also another important service that will be in a partnership with Accenture in this project.

    The company will use something called a “circular supply chain” which is defined as a way to organize the production of the company so that the materials used in it get recycled as often as they can be, which is good for the environment. This new app will allow the customers of these companies to track where the goods that they are buying come from and to see all the kinds of certifications that the producers have.

    Another thing that the customers will be able to do is to send tips and rewards to the producers via the app. Rewards can be sent from the token of the app or be powered by Mastercard payments, according to reports.

    He Global Blockchain Lead of Accenture, David Treat, has told the crypto media that the company will enroll several small farms from around the world and help them to register as ecologically conscious companies that will help the company to create a new digital identify and allow the consumers to see the process from up close.

    The company will also work with associations of farmers from Africa and South America. These associations will be mainly responsible to maintain cloud-based nodes for the farmers, which will help in the process.

    Mercy Corps, which is a part of the initiative, will contribute with its experience. According to the company, they are exploring agricultural programs in their current portfolio that can be a part of the project and that will offer interesting products for the customers.

    The Tech Behind Circular Supply Chain

    This new project will be created using Hyperledger Fabric technology as a basis. According to Accenture, they are looking for more partners right now, despite having some important ones like Mastercard already on their side.

    The full payment system, which is being spearheaded by Mastercard, is not yet ready, but it will use both their technology and the blockchain. Mastercard’s executive vice president for humanitarian issues, Tara Nathan, has affirmed that the company already participated in similar projects in Mexico, Kenya, and India and that it has the expertise and the experience in order to make this partnership work.

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    Gabriel Machado
    Brazilian journalist who is interested in the future of the financial world. Has a special interest in the blockchain technology and the global financial markets. Covers economic and technology news with a focus on the fintech industry and has been writing about the cryptocurrency market since the start of 2017.

    [Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

    [Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer


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