On the 25th of February, Accenture which is a global management consulting firm announced that they are working to launch the prototype of a blockchain powered app that will allow end users to reward business models and services that operate in a sustainable manner that will lead to the conservation of our quickly depleting natural resources.
In the press release, Accenture stated that the app is being made in collaboration with the likes of blockchain startup Everledger, Mastercard, Amazon and even the international NGO, Mercy Corps.
The aim is to encourage the idea of circular supply chain practices which consists of the reuse and recycling of raw materials and discarded goods. Like many other firms around the world, Accenture is hopeful that the use of blockchain technology will allow users to be more involved in the entire production process as they will be able to track the goods they buy from their production to their sale.
However, the most interesting feature is the novel idea of users being able to send tips to sustainable businesses to further encourage the act and also allow businesses and small scale suppliers to keep a track of the use of their resources to save costs.
David Treat, who is the firm’s global blockchain lead talked about the implementation of circular supply chains and said, “Our identity capabilities are already empowering millions of users around the globe to access essential services like healthcare, banking and travel. Our circular supply chain capability combines these components with blockchain and expands its application to places and things, which is allowing us to rethink global supply chains.”
He further added that, “Through effective public and private partnerships, we can place sustainability and customer empowerment at the heart of global business models and we invite more partners to join us.” that the rewards or tips can be received by producers and businesses via either fiat currency with the aid of Mastercard or any blockchain based currency.”
The press release also added that since more and more consumers hoped to shift towards more sustainable brands, the importance of revolutionizing supply chain operations has increased invariably. Now, with this new prototype, not only does the firm hope to empower consumers but also the businesses in order to ensure that more sustainable practices are employed.