Mastercard: Bringing transparency to supply chains

By Georgia Wilson
Mastercard Blockchain has partnered with Envisible to provide supply chain visibility within the food industry. Topcois set to pilot the technology. On...

Mastercard Blockchain has partnered with Envisible to provide supply chain visibility within the food industry. Topco is set to pilot the technology. 

One of the biggest trends driving change in the food industry is, transparency. More than ever, consumers want to know where products have come from, how they are sourced and whether it is environmental and humane. 

As part of its partnership, Mastercard will power Envisible’s ‘Wholechain’ traceability solution via its blockchain-based provenance solution. While Topco Associates LLC will pilot the solution highlighting the origin of seafood, the company will start with salmon, cod and shrimp. 

Mastercard believes in the transformative power of blockchain and has three core principles when it comes to applying the technology:

  • Provide strong consumer protection, including privacy and security. 

  • Provide a level playing field for all stakeholders.

  • Operate with full compliance to laws and regulations.

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What is Envisible’s ‘Wholechain’ solution?

Wholechain provides businesses with increased visibility within global supply chains, in order to improve risk management and increase efficiency, allowing consumers the ability to make more responsible decisions. The easy to use software is available in multiple languages, utilising innovative blockchain technology and aims to provide a trusted, coordinated and transparent platform for supply chains within the food industry.

 

Key features of the solution include:

Security and integration

API access, blockchain agnostic and data standards. 

Enterprise administration

Targeted encryption, useful integration and team management and monitoring.

Risk management

Permissioned data access, supplier mapping and immutable records.

Decision making

Desktop dashboard, real-time activity, standardised templates and design workflows.

Transformation

Digital product records, Blockchain technology, QR code scanning and supply chain mapping.

 

Did you know? Mastercard will demonstrate its provenance solution that is powering Envisible's 'Wholechain' solution, at Money 20/20 in Las Vegas October 27-30 2019.  

 

For more information on all topics for Procurement, Supply Chain & Logistics - please take a look at the latest edition of Supply Chain Digital magazine.

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