ACHAT, NY – (BUSINESS WIRE) – October 29, 2020 –
Today, Mastercard announced a collaboration with GrainChain, a technology company that enables supply chain visibility, empowers suppliers and farmers while reducing risk for buyers in the United States, Mexico and America. central.
Using Mastercard’s proprietary and independent blockchain technology, Mastercard and GrainChain can together create digital product data records, marking Mastercard Provenance Solution’s entry into Central America.
Increased complexity and a lack of visibility in global supply chains have made it increasingly difficult for brands to meet standards and protect their reputation. With GrainChain, Mastercard Provenance Solution provides end-to-end visibility throughout the supply chain, enabling participants to legally track products, from initial inputs and raw materials, to harvest and processing, to through logistics and delivery to the consumer. This enables brands and producers to proactively protect consumers and manage their brand reputation, business effectiveness and bottom line.
“The traceability market is a global industry and the digital identity of products and goods is even more critical today, as consumers, brands and governments demand to know where products and services come from,” said Deborah Barta, Senior Vice President of Innovation and Startup Engagement at Mastercard. “With Mastercard Provenance Solution, we strive to help parties benefit from reliable data, which improves efficiency throughout supply chains, helping to protect consumers. With our first partnership in Central America, the collaboration with GrainChain demonstrates our ability to scale globally and transform supply chains into new industries. “
“We are leveling the playing field for hard-working producers in North America and Latin America, giving them much more power and control over the production and sales process,” said Luis Macias, CEO and founder of GrainChain. “Small suppliers to countries around the world suffer from a lack of reliable real-time information and deserve transparency, accountability and profitability through streamlined global trade. Through our new partnership with Mastercard, we provide an unmatched level of efficiency, reliability, transparency and security to the entire commodity supply chain. “
Building a global network of trust
As one of the leading blockchain filers and patents in the financial services industry, Mastercard is committed to bringing together partners and stakeholders from the commerce ecosystem to support their businesses and customers. Mastercard has filed several patent applications covering key elements of its Mastercard Provenance solution. By using our authorized blockchain and combining partner blockchain technologies with Mastercard assets, we are able to enhance the visibility of product journeys and provide a clear record of traceability designed to help build trust, trust and consumer awareness in a wide variety of industries, including food. , cosmetics, electronics, logistics, retail, etc.
About Mastercard (NYSE: MA):
Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive digital economy that benefits everyone, everywhere, by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments and businesses realize their greatest potential. Our decency quotient, or DQ, guides our culture and everything we do inside and outside of our business. With connections in more than 210 countries and territories, we are building a sustainable world that opens up invaluable possibilities for all.
GrainChain was founded with the aim of solving the biggest issues facing global supply chains, such as how products are verified and traded. Our innovative blockchain and IoT-based product suite encompasses all players in the supply chain and enables producers, buyers, storage operators and privilege holders to accurately, efficiently and reliably track products from field to market. GrainChain recently expanded its operations to Central America and, through this partnership, plans to expand to the rest of Latin America soon.
See the source version on businesswire.com: https://www.businesswire.com/news/home/20201029005373/en/
CONTACT: Katie Priebe
+1 (914) 707-9822 | [email protected]
KEYWORD: UNITED STATES NORTH AMERICA NEW YORK
INDUSTRY KEYWORD: TECHNOLOGY FINANCE SECURITY BANKING PROFESSIONAL SERVICES SOFTWARE NETWORKS DATA MANAGEMENT DETAIL SUPPLY CHAIN MANAGEMENT
SOURCE: Mastercard Investor Relations
Copyright Business Wire 2020.
PUB: 10/29/2020 07:00 / DISC: 10/29/2020 07:02
Copyright Business Wire 2020.