Nestlé will break new ground in supply chain transparency through a collaboration with OpenSC – an innovative blockchain platform that allows consumers to track their food right back to the farm.
“This open blockchain technology will allow anyone, anywhere in the world to assess our responsible sourcing facts and figures,” said Benjamin Ware, Global Head of Responsible Sourcing, Nestlé S.A.
“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,” Benjamin Ware added.
Through this collaboration, Nestlé becomes the first major food and beverage company to announce that it will pilot open blockchain technology in this way. This is part of Nestlé’s journey towards full transparency.
Founded by WWF-Australia and The Boston Consulting Group Digital Ventures, OpenSC has developed a platform that will give anyone, anywhere access to independently verifiable sustainability and supply chain data.
The initial pilot program will trace milk from farms and producers in New Zealand to Nestlé factories and warehouses in the Middle East. Later, the technology will be tested using palm oil sourced in the Americas. These pilots will allow Nestlé to understand how scalable the system is.
Magdi Batato, Executive Vice President, Head of Operations, Nestlé S.A. said:
“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 has piloted blockchain technology since 2017, most prominently with IBM Food Trust. In April, it gave consumers access to blockchain data for the first time, through Mousline purée in France.
OpenSC was co-founded by WWF (the World Wide Fund for Nature) and BCG Digital Ventures aimed at addressing these challenges.
- Bittrex Acquires Tradedash – July 3, 2019
- Korea’s Cube Systems Rolls Out New Blockchain eCommerce Platform – July 3, 2019
- Clinlogix Joins ALTEN Calsoft in Launching Blockchain for Clinical Trials – July 3, 2019
- Binance Charity forms alliance with 46 companies to unveil a stablecoin for the alleviation of period poverty – July 3, 2019
- Nestlé Breaks from IBM Food Trust Blockchain Group for New Milk Supply Chain Trial – July 3, 2019
- Tokeny Solutions Digital Asset Platform Gets €5 Million Backing from Euronext – July 3, 2019
- Blockchain Venture Capital Funding Reaches $822 Million in 2019 – July 1, 2019
- Toronto’s Creative Destruction Lab Joins Facebook’s Libra Association – June 19, 2019
- Australia’s Power Ledger to bring P2P Energy Trading to Austria – June 19, 2019
- Litecoin Foundation Teams Up With Bibox And Ternio On Special Edition Litecoin Debitcard – June 19, 2019
- US Legislators Call for Halt to Facebook’s Cryptocurrency Plans – And to Face Congress – June 19, 2019
- Hyperledger Welcomes Diverse Line-up of New Members for Identity Project – June 18, 2019
- Facebook Announces Calibra Digital Wallet and Libra Cryptocurrency – June 18, 2019
- MIT Professor Silvio Micali’s Algorand Project Announces Date for First Auction – June 6, 2019
- SEC sues Canadian Messaging Service Kik Selling Unregistered Securities in its $100 million ICO – June 4, 2019
- CrowdEngine Teams Up With Polymath Adding Security Token Issuance to List of Crowdfunding Services – June 3, 2019
- Bitcoin Inc. CEO Morgan Rockcoon Busted – 21 Months in Prison and Fines – June 3, 2019
- Reshaping a Nation’s Logistics Sector: Singaporean Blockchain Company PLMP Cuts Multimillion Dollar Deal With Indonesia – June 3, 2019
- Swisscom TV Opens Blockchain-based Art Gallery – June 3, 2019
- Canadian Messaging Service Kik Burns $5 Million Fighting SEC Over Utility Tokens, Now Raising $5 Million More to Continue Battle – June 3, 2019
Also published on Medium.