Mastercard announced a collaboration with GrainChain, an AgTech company solving the complex challenges facing the global agricultural industry at every stage of the supply chain. The partnership is expected to bring integrity to supply chains, tracing more than 24 commodities, such as coffee, sorghum and grain, in the United States, Mexico and Central America.
“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 are from.”Deborah Barta, Mastercard’s SVP of Innovation & Startup Engagement
The agricultural supply chain is incredibly opaque, particularly in the developing world. There is no standard way of gaining access to information about where things came from, their quality upon shipping, how they were carried and how long they were in transit. This sort of complexity and lack of visibility across global supply chains has made it increasingly difficult for brands to uphold standards and protect their reputations.
“Small suppliers in countries around the world suffer from a lack of reliable real-time information and deserve transparency, accountability and profitability with streamlined global trade. Through our new partnership with Mastercard, we are providing an unparalleled level of efficiency, reliability, transparency, and security to the entire commodity supply chain.”Luis Macias, CEO and Founder of GrainChain
With Mastercard Provenance Solution, GrainChain can now more effectively deliver end-to-end visibility throughout the supply chain, allowing participants to forensically track commodities, from the initial inputs and raw materials to harvesting and processing to logistics and delivery to the consumer’s hands. Doing so enables brands and producers to proactively protect consumers and manage their brand reputation, business efficiencies and bottom line.