Business
SKUx and Mondelēz International Complete First Phase of Hedera Distributed Ledger Technology Innovation Project
Mondelēz International offers, powered by SKUx, becomes the first real-world, public adoption of DLT to track the supply chain of consumer-packaged goods,
About this update from Mondelez International, Inc.
[{"type":"text","content":"\nMondelēz International offers, powered by SKUx, becomes the first real-world, public adoption of DLT to track the supply chain of consumer-packaged goods, digital payments.\n\n ST. PETERSBURG, Fla.--(BUSINESS WIRE)--\nSKUx, a leader in item-level payments acceptance and digital payment innovation, today announced the completion of the first phase of its payment-based offer innovation project with Mondelēz International and Hedera, an open source leading enterprise distributed ledger technology (DLT) network.\n\nAs a member of the Hedera Council, Mondelēz International, whose mission is to empower people to snack right, partnered with SKUx to develop innovative, DLT-based solutions on Hedera, focused on digital transformation initiatives, supply chain management, and enriched business processes to enable enhanced customer experiences.\n\nThe first phase of the innovation project successfully expands upon the current SKUx and Mondelēz customer service program in-market, which was designed to enhance consumer offer experiences by adding a near real-time, SKUx digital payment option alongside coupons, mailed paper checks, and vouchers. The expanded innovation project publicly maps a subset of these payment transactions to the Hedera Network, providing an end-to-end secure and seamless consumer offer experience tied to an immutable record of transaction, a groundbreaking step forward for the retail ecosystem.\n\n“As a customer first global organization we are committed to being at the forefront of innovation,” said Xiang Xu, Global COE Leader of Digital Strategy and Blockchain at Mondelēz International. “With today’s high volatility in consumer behavior and increasingly complex supply chains, it is critical we focus on digital transformation and leveraging Web3 technologies to increase customer satisfaction and engagement. Our work with SKUx and Hedera provides unmatched transparency and is a real-world example of the transformational opportunity blockchain provides. This is only the beginning.”\n\nMondelēz International is a leading multi-national food company with iconic global and local brands such as Oreo, Ritz, LU, Clif Bar, and Tate's Bake Shop biscuits and baked snacks, as well as Cadbury Dairy Milk, Milka, and Toblerone chocolate. The company has operations in more than 80 countries, employing approximately 91,000 diverse a...