Nestlé is working on “Open Blockchain Project”

Nestlé, based in Switzerland, is the world's leading nutrition, health and wellness company. More than 333.000 employees in a total of 447 factories worldwide work for the large corporation, which includes many well-known brands such as Nescafé, Garnier, Vichy, Smarties, KitKat and many more. According to an official press release from Tuesday, July 2, 2019, Nestlé, like countless other companies, will test the benefits of blockchain technology.

Blockchain for more transparency in supply chain management

Despite the never-ending discussions around the large Swiss company, you cannot deny its great influence on the global economy. Apart from that, it should be for the Blockchain industry but one positiver Take the step when successful companies like Nestlé want to discover, research and use the technology for themselves. The press release states that in cooperation with OpenSC, the blockchain can be used Increase transparency in supply chain management.

OpenSC was from WWF Australia and the Boston Consulting Group Digital Ventures founded. Together, a platform was developed that gives everyone access to independently verifiable sustainability and supply chain data at any time. According to the press release, Nestlé is leading the way with this step:

With this cooperation, Nestlé is the first large food and beverage manufacturer to officially announce that it is testing an open blockchain project of this kind. This is part of Nestlé's path to full transparency.

The program has it all: from milk producers in New Zealand to warehouses in the Middle East, the project is to be tested. The pilot project should show how scalable this system is.

Magdi Batato is Executive Vice President at Nestlé and sees the Advantage, which results from the use of blockchain technology, especially with Customers:

We want our customers to make a well-considered decision when choosing one of our products - to choose those that have been produced sustainably. Blockchain technology could allow us to share reliable information with our customers in an accessible way.

We are excited to see how the project develops and look forward to other companies that recognize the advantages of blockchain technology!


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