According to MIT Sloan, 81% of companies do not have complete visibility into their supply chains, and 54% have no visibility at all. Because of this, many companies may find it challenging to verify ethical sourcing. As 94% of consumers are more likely to be loyal to brands with complete supply chain visibility, and 40% of food waste is due to opaque supply chains, having a clouded view can hurt you.
Wholechain and the Algorand Foundation are partnering to provide blockchain-enabled tracing without a considerable carbon footprint. Businesses can trace products to origin points and verify ethical, sustainable sourcing.
“It is extremely important to Wholechain and our customers that we partner with a blockchain that is scalable, reliable, and secure, with a minimal carbon footprint,” said Jayson Berryhill, Co-Founder of Wholechain.
“We’re passionate about Wholechain’s mission because, as the pandemic clearly demonstrated, the world desperately needs well-functioning and efficient supply chains,” said Matt Keller, Director of Impact and Inclusion at the Algorand Foundation. “We look forward to the day when everyone, including major humanitarian organizations, large consumer brands, and small-holder farmers, can trace agricultural products up and down the supply chain, building trust in the market and empowering both consumers and growers.”
Wholechain’s team will transition existing customers to the new version starting early September. Wholechain meets GS1 data standards such as EPCIS and industry standards like the Global Dialogue on Seafood Traceability, which enables end-to-end data sharing across supply chains. They’ve also added robust APIs for integrations within customers’ enterprises.