Unilever and Sainsbury’s test blockchain for ethical supply chains
Written by Mark Evans
Technology company Provenance is leading a collaboration of fintech startups to test whether blockchain technology can help unlock financial incentives that improve transparency and sustainability in supply chains.
The group, which also includes Landmapp, FOCAFET Foundation and Halotrade will be working with partners including the Department for International Development (DFID), Unilever, Sainsbury’s, Sappi, and global banks Barclays, BNP Paribas, Standard Chartered.
The group is being convened by the University of Cambridge Institute for Sustainability Leadership (CISL) and will work together on the year-long project that was announced today at the UN’s One Planet Summit.
With the aim of tackling the Sustainable Development Goals, the project will link financial incentives to verifiable sustainability claims and transparent supply chains, using a shared data system for tea farmers in Malawi. If it’s successful, it could benefit the 1.5 billion families who depend on small-scale agriculture worldwide.
Under the technology physical products to gain a digital identity that links the flow of physical products to a distributed ledger aiding data sharing and proof of provenance through the supply chain from farmer to retailer.