Mastercard tests blockchain for supply chain

Mastercard has teamed up with Envisible to roll out its blockchain system to better track food.

Envisible will leverage Mastercard's blockchain-powered Provenance Solution to power its Wholechain traceability system. The blockchain tool will be piloted at Topco Associates member grocery chains, beginning with Food City. The goal is to provide more insight into ethical sourcing and environmental compliance with the food offered in stores.

Mastercard built its blockchain system to help provider visibility and clarity within organizations' supply chain management. The company has more than 100 blockchain patents filed, making it a leader among blockchain innovators.

"The identity of things is becoming even more important as consumers raise demands for transparency," said Deborah Barta, senior vice president of innovation and startup engagement at Mastercard. "Our Provenance Solution leverages Mastercard's established network of capabilities, globally scaled technology and services, such as payments and counterfeit programs. This allows us to deliver trust, financial inclusion and back-end efficiencies to the marketplace."

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