fbpx
Finance

Nestle Testing Public Blockchain Tech To Streamline Dairy Supply Chains

Smarter_way_USA

Even a few years ago, blockchain technology was not something that man had heard about; However, the continued prevalence of cryptocurrencies eventually made people aware of the tech and the immense potential it had. It is important to note that blockchain technology is not only meant for digital currencies but in fact, it can be used by businesses for a variety of functions and hence, it is now being tested for a range of purposes by plenty of companies. In a new development, it has emerged that Swiss food and drinks behemoth Nestle has started testing blockchain technology to streamline its dairy supply chains.

Over the past few years, plenty of big-ticket companies have started testing blockchain technologies, and hence, it does not comes as a complete surprise. However, in this regard, it is important to note that the fact that one of the world’s largest corporations is testing blockchain, comes as a huge boost for space and it could lead to even more adoption in the years to come. According to a report in a leading publication, Nestle has signed an agreement with OpenSC, a blockchain company based in Australia and the company is going to help the company with its blockchain supply chain solutions.

Benjamin Dubois, who is the blockchain lead at Nestle, seemed to indicate that the company could even use an open blockchain for its purposes. He said,

“Something that allows full disclosure, without any Nestle control, where the data is uploaded by every actor along the value chain and is available for anyone and anywhere to take on this data.”

An open blockchain could prove to be an unprecedented move for a company of its size, but it could prove to be a significant development for the blockchain community as a whole. The more the variants of blockchain technology are in commercial use, the better it is for the ecosystem and those who work in this industry. As of now, the agreement will see the company testing out blockchain tech in its dairy supply chain, to begin with.

Tags

Jodie Miller

Jodie Miller is experienced journalist. She holds double degree in journalism and communication. She joined our team as a content curator. She enjoys writing and curating contents related to finance and forex world.
Event Information
Event Information
Back to top button