McDonald’s, Nestlé and Virgin Media have entered a blockchain pilot launched by the Joint Industry Committee for Web Standards (Jicwebs). The companies will take part in the trial during 2019, measuring the impact of blockchain solutions that provide “end-to-end supply chain transparency and clarity around advertising spend.”
Further stages of the trial will look to “optimise the supply chain and gain operational efficiencies for all involved.” Jicwebs has partnered with Fiducia for the initiative. If successful, the former will consult the industry on how best to roll it out by 2020.
“Blockchain technology offers us the opportunity to see a truly transparent picture of our investment across the digital supply chain. We are also eager to understand the potential impact that this may have on our ROI and efficiency,” Kat Howcroft, Senior Media and Budget Manager at McDonald’s said.
“We want our consumers to make an informed decision on their choice of products – to choose products produced responsibly. Open blockchain technology might allow us to share reliable information with consumers in an accessible way,” Magdi Batato, Executive Vice President, Head of Operations, Nestlé, said.