Mondelēz International Joins Hedera Council to Accelerate DLT Adoption, Digital Transformation, and Improved Business Efficiencies
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The integration of Mondelēz International into the Hedera Council marks a significant stride in the adoption of distributed ledger technology (DLT) within the consumer-packaged goods (CPG) industry. This move is indicative of a growing trend where large, traditional companies are actively exploring and implementing blockchain and DLT solutions to revolutionize aspects such as supply chain management and customer engagement.
Mondelēz's collaboration with SKUx to introduce digital payment options is a forward-thinking approach to enhancing consumer offer experiences. It reflects an evolving consumer landscape where digital transformation is not just a buzzword but a business imperative. By leveraging Hedera's capabilities, Mondelēz could potentially streamline its operations, reduce costs and offer greater transparency to consumers, which may lead to increased brand loyalty and competitive advantage.
For investors and stakeholders, the long-term implications could be substantial. DLT implementations can lead to improved operational efficiencies, which might reflect positively on Mondelēz's financial performance. However, the success of such technological integrations will depend on execution and consumer acceptance. Monitoring the progress of these initiatives could provide insights into the company's ability to innovate and stay ahead in a competitive market.
The adoption of DLT by Mondelēz International signifies a transformative step in supply chain management. DLT's inherent characteristics, such as immutability and transparency, can offer unparalleled traceability of goods from production to consumption. This level of traceability can significantly mitigate risks associated with counterfeiting, recalls and quality control, which are prevalent concerns in the food industry.
Furthermore, the application of Hedera's technology could potentially reduce the time and cost associated with traditional supply chain processes. By enabling near real-time tracking and verification of transactions, Mondelēz may be able to respond more swiftly to market demands and supply chain disruptions, which is particularly valuable in an industry facing increasing pressure for agility and resilience.
While the initial focus is on digital transformation initiatives and enriched business processes, the long-term sustainability benefits could be a game-changer. The ability to monitor and verify the sustainability of supply chain practices in real time could help Mondelēz meet its environmental and social governance (ESG) commitments and appeal to the growing demographic of eco-conscious consumers.
From a financial perspective, Mondelēz International's entry into the Hedera Council and its investment in DLT technology could be seen as a strategic move to future-proof the business. The integration of next-generation technologies like Web3 and DLT into its operations could create new revenue streams and improve margins through increased efficiency and cost reductions.
Investors should note that while the initial costs of technology adoption might be high, the potential return on investment (ROI) can be significant if these technologies are successfully implemented. The ability to provide near real-time digital payment options and improve supply chain efficiency could lead to an enhanced customer experience and potentially increased market share.
It is important to monitor Mondelēz's quarterly financials following this announcement to assess the impact of these technological investments on their operating expenses and revenue growth. Any significant deviations from industry norms or expectations could provide valuable insights into the effectiveness of DLT in driving business value for Mondelēz and its stakeholders.
As a member of the Hedera Council, Mondelēz International, whose mission is to empower people to snack right, is working to develop innovative, distributed ledger technology (DLT)-based solutions on Hedera, initially focused on digital transformation initiatives, supply chain management, and enriched business processes to enable enhanced customer experiences.
One example is showcased in Mondelēz's current work with SKUx, a rising fintech and payments platform company. SKUx and Mondelēz are expanding a customer service program enhancing consumer offer experiences by adding a near real-time, SKUx digital payment option alongside coupons, mailed paper checks, and vouchers. The next-generation use case leveraging Hedera will serve as the first real-world adoption of DLT to track the supply chain of consumer-packaged goods (CPG), digital payment-based offers.
The Hedera Council is a consortium of over 30 highly diversified organizations governing the Hedera network, a sustainable public ledger for the decentralized economy. As one of the largest snack companies in the world, Mondelēz International's exploration of DLT will further strengthen its ability to help customers on their digital transformation journey, with a goal to innovate customer engagement and increase business efficiency and sustainability through the application of Web3 and DLT technologies.
"We are excited to continue our commitment to digital transformation exploring distributed ledger technologies alongside Hedera," said Xiang Xu, Global COE Leader of Digital Strategy and BlockChain at Mondelēz International. "The potential to solve longstanding retail industry challenges for consumer-packaged goods companies and merchants is very compelling."
Bill Miller, co-chair of the Membership Committee for the Hedera Council, said, "Mondelēz International is a global food leader responsible for many of the food brands that today's consumers enjoy. We are excited to amplify their voice as part of the Hedera Council towards spearheading relevant business solutions for the greater CPG and retail ecosystem."
About Hedera
Hedera is the open source, leaderless proof-of-stake network powering the next generation of Web3. Hedera's robust ecosystem is built by a global community, on a network governed by a diverse council of industry-leading organizations, including abrdn, Avery Dennison, Boeing, Chainlink Labs, COFRA Holding, DBS Bank, Dell, Dentons, Deutsche Telekom, DLA Piper, EDF (Électricité de
For more information, visit www.hedera.com, or follow us on Twitter at @Hedera, Telegram at t.me/hederahashgraph, or Discord at www.hedera.com/discord. The Hedera whitepaper can be found at www.hedera.com/papers.
About Mondelēz International
Mondelēz International, Inc. (Nasdaq: MDLZ) empowers people to snack right in over 150 countries around the world. With 2022 net revenues of approximately
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SOURCE Hedera
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