Accenture announced the Circular Supply Chain on Monday. The supply chain platform was under development. It will leverage digital identity, payments and blockchain to directly reward sustainable practices of small-scale growers and suppliers. They are also partnering with Everledger and Mercy Corps for the initiative. It includes direct token payment between users.
With the platform, consumers can now keep track of and even tip sustainable business practices that have effect to society and environment using a tokens on the blockchain-based prototype supply chain platform. The tips are made directly via crypto by consumers to recipients. The tipping will encourage environmentally mindful practices in business and production, even as two-thirds of consumers saying they preferred sustainable brands. Consumers have had limited opportunities to support and incentivize sustainable practices.
The supply chain platform not only connects consumers directly with producers but also helps to increase transparency of choices. Hence the app aligns with operations of the supply chain.
Thanks to the digital identity capability where each producer or farmer or supplier gets unique digital identifier and where produce is linked to the owners, the platform can also help to proof authenticity of produce sources and producers can get compensated more equitably for their produce.
The platform can also be used by governments and non-government organizations to track complex supply chains to small originating producers and thus helping them to manage issues relating to accountability, waste and information transparency.
With the app, producers register and submit certifications. They can then check the product journey from production to when it lands in their hands. Using cryptocurrency, they are then tip framers and producers that are making sustainable choices to encourage it.
Following a partnership between Accenture and Mercy Corps, farmers can also select the areas in which their products could make the biggest impact.
Mercy Corps is exploring agricultural programs through which they can pilot the Circular Supply Chain, adding that it could be best suited for boutique consumer goods such as single origin cofee as opposed to bulk goods.