Unlocking the Power of Distributed Ledger Technology (DLT)
Renowned for its iconic brands like Oreo, Cadbury, and Ritz, Mondelēz’s leveraging of SKUx’s innovative payments platform, stands as a testament to their commitment to revolutionize the consumer-packaged goods (CPG) landscape. As part of the Hedera Governing Council, Mondelēz is poised to lead the charge in developing innovative, distributed ledger technology based solutions.
SKUx and Mondelēz’s Collaborative Initiative
A noteworthy example of this transformative collaboration is their ongoing partnership with SKUx. Together, the two organizations are spearheading a customer service program that redefines traditional consumer payment methods. By integrating near real-time SKUx digital payments into the mix, Mondelēz is ushering in the next era of consumer engagement, providing a seamless and efficient payment-based alternative to coupons, mailed paper checks, and vouchers.
Hedera’s Role in Real-World Adoption of DLT
Quoting the Hedera and Mondelēz announcement, “this collaboration marks the first real-world application of DLT to track the issuance and redemption of a CPG branded, digital payment-based offer.” Importantly for the DLT industry, the use case is centered around solving real-world business challenges for a multinational CPG brand but is not cryptocurrency related. Hedera’s open-source, leaderless proof-of-stake public network provides an immutable audit trail for SKUx powered payments and is transformational for the CPG and payments industry towards reducing fraud while also providing greater transparency.
The Hedera Governing Council
Mondelēz International’s inclusion in the Hedera Governing Council adds significant weight to the mission of creating a sustainable, enterprise-grade public ledger for the decentralized economy. With a focus on exploring distributed ledger technologies, Mondelēz aims to address longstanding challenges in the retail industry, delivering innovative solutions for CPG companies and merchants.
Commitment to Digital Transformation
Xiang Xu, Global COE Leader of Digital Strategy and Blockchain at Mondelēz, expressed excitement about the potential to solve industry challenges, stating, “We are excited to continue our commitment to digital transformation exploring distributed ledger technologies alongside Hedera.” The goal is to drive innovation in customer engagement and enhance business efficiency and sustainability through the application of Web3 and DLT technologies.
The recent announcement of Mondelēz International’s strategic collaboration with SKUx and involvement in the Hedera Governing Council positions them as trailblazers in leveraging DLT to reshape the future of consumer-packaged goods and digital instant payments. As they continue to explore the vast potential of DLT, the partnership promises exciting innovations and transformative solutions for the evolving landscape of the food industry.