The giant food retail corporation Nestlé revealed in a press release made today, that they will monitor the supply chain of their products using blockchain technology.
The blockchain pilot will be launched in partnership with OpenSC, a blockchain created jointly by the WWF-Australia and BCG Digital Ventures in January.
Nestlé S.A., Executive Vice President, Head of Operations, Magdi Batato, was quoted to say in the press release:
“We want our consumers to make an informed decision on their choice of products – to choose products produced responsibly. Open blockchain technology might allow us to share reliable information with consumers in an accessible way.”
Nestlé states in the press release that through this project they will become the “first major food and beverage company to announce that it will pilot open blockchain technology in this way.”
The OpenSC platform will reportedly allow consumers to access “independently verifiable sustainability and supply chain data.”
The pilot program will first trace milk from farms and producers in New Zealand to the factories and warehouses owned by Nestlé in the Middle East. The company then states that the pilot will be used later on to track the palm oil sourced in the Americas. The blockchain pilot will enable the company to determine the scalability of the project.
“This open blockchain technology will allow anyone, anywhere in the world to assess our responsible sourcing facts and figures.” – said Nestlé’s Global Head of Responsible Sourcing Benjamin Ware, adding that:
“We believe it is another important step towards the full disclosure of our supply chains announced by Nestlé in February this year, raising the bar for transparency and responsible production globally,”
Other global retailers have realized the potential of using blockchain technology in supply chain tracking. Walmart and its partnership to the VeChain project will allow the retail giant to track products for its Chinese customers.