Amazon partners MasterCard and Accenture for blockchain

Cryptocurrencies have emerged from being a “timely craze” to “an integral part of future’s financial system, even so, more than half of the world is still unfamiliar with the words blockchain and cryptocurrencies.

To change that Amazon, Accenture and MasterCard have collaborated to introduce a “circular supply chain” that will allow clients to make more developed choices about the stuff they buy on the internet.

The supply chain would allow customers to tip the producers as well as reward them directly. All of that would be achieved by the implementation of a blockchain network. Accenture has entered a partnership with various companies including Amazon Web Services, Everledger, and Mercy Corps to develop its supply chain capabilities.

Online Shopping is extremely famous across the world and connects different parts of the world together, even so, the technology is yet far from perfect or even frictionless. In fact, more than 60%of Americans desire a frictionless online shopping system.

Another problem that arises when shopping online s that you cannot verify where and how things are made this often leads is misleading people and breaches of trust.

Meanwhile, David Treat an official from the blockchain sector of Accenture stated the blockchain networks provided by Accenture helped many small producers at the beginning by connecting them directly with the buyers. He also added that his team is working on both in-store and online implementation that can detect where a product was made just by scanning its tag.

This system not only creates frictionless networks for huge corporations but also for small producers like smallholder farmers.