SKUx and Mondelēz International Complete First Phase of Hedera Distributed Ledger Technology Innovation Project

Rhea-AI Summary

SKUx, a leader in item-level payments acceptance and digital payment innovation, has completed the first phase of its payment-based offer innovation project with Mondelēz International and Hedera, a leading enterprise distributed ledger technology (DLT) network. The project expands upon the current SKUx and Mondelēz customer service program, adding a near real-time digital payment option alongside traditional methods. It also publicly maps a subset of payment transactions to the Hedera Network, providing an end-to-end secure consumer offer experience tied to an immutable record of transaction.

This initiative represents the first real-world, public adoption of DLT to track the supply chain of consumer-packaged goods and digital payments. Mondelēz International, a leading multi-national food company, sees this as a step towards digital transformation and leveraging Web3 technologies to increase customer satisfaction and engagement in the face of volatile consumer behavior and complex supply chains.

Positive

• First real-world, public adoption of DLT for tracking consumer-packaged goods supply chain and digital payments
• Addition of near real-time digital payment option to enhance consumer offer experiences
• End-to-end secure consumer offer experience tied to immutable transaction records
• Potential for increased customer satisfaction and engagement through digital transformation
• Mondelēz International's participation in The Hashgraph Association's Enterprise Accelerator Program

Negative

• None.

Mondelēz 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.

ST. PETERSBURG, Fla.--(BUSINESS WIRE)-- SKUx, 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.

As 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.

The 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.

“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.”

Mondelēz 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 and talented employees across its factories, offices, research & development facilities, and distribution activities worldwide.

Bobby Tinsley, CEO and Co-founder of SKUx, said, “We are proud to play a pivotal role in delivering an incredible customer experience for Mondelēz as well as the broader retail industry. At SKUx, we’re helping merchants, brands, and payment partners unlock value with every transaction, with a mission to deliver personalized, seamless, and impactful buying experiences that drive loyalty, financial inclusion, and wellness.”

Recently, Mondelēz joined The Hashgraph Association’s Enterprise Accelerator Program which is offering Mondelēz funding, training, and Hedera-powered enterprise-grade solutions, among other support.

About SKUx

SKUx powers promotions and item-level payments at the speed of today’s consumer. With mobile phones, bar codes, virtual cards and app-based payments now ubiquitous tools of commerce, SKUx’s Digital Payments Platform provides flexible, end-to-end solutions to deliver value directly to customers. SKUPay® is a revolutionary tool for merchants to eliminate consumer friction in product-specific payment acceptance for use in health benefits, CPG promotions, travel/entertainment and other industries. SKUx Digital Payments is a suite of tools which provide multi-channel payments for company promotions, loyalty and benefits at the point of sale. The SKUx platform combines first-party data, mobile branding, DLT serialization, secure digital payments and settlement and other technology to deliver a seamless consumer experience and real-time transparency for merchants, brands, and payment partners. For more information, visit skux.io.

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 $31 billion, MDLZ is leading the future of snacking 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. Mondelēz International is a proud member of the Standard and Poor’s 500, Nasdaq 100 and Dow Jones Sustainability Index. Visit www.mondelezinternational.com or follow the company on Twitter at www.twitter.com/MDLZ.

About The Hashgraph Association

The Hashgraph Association is at the forefront of the digital enablement and empowerment of organizations through the broad adoption of Hedera-powered enterprise-grade solutions and decentralized applications, including funding training, innovation, and venture building programs globally. As a non-profit organization headquartered in Switzerland, The Hashgraph Association supports and funds innovation, research, and development that enables economic inclusion and a digital future for all, with a positive environmental, social, and governance (ESG) impact. For further information about The Hashgraph Association, visit www.hashgraph-association.com.

Forward-Looking Statements

This release contains “forward-looking statements” within the meaning of the U.S. federal securities laws. Statements that are not historical facts, including statements about anticipated business and financial outcomes, including any projections of the Company, projected revenue or expense synergies, business and market conditions, outlook, the Company’s sales pipeline and anticipated profitability and growth, the outcome of our comprehensive assessment referred to in this release, as well as other statements about our expectations, beliefs, intentions, or strategies regarding the future, or other characterizations of future events or circumstances, are forward-looking statements. These statements may be identified by words such as “expect,” “anticipate,” “intend,” “plan,” “believe,” “will,” “should,” “could,” “would,” “project,” “continue,” “likely,” and similar expressions, and include statements reflecting future results or guidance, statements of outlook and various accruals and estimates. These statements relate to future events and our future results and involve a number of risks and uncertainties. Forward-looking statements are based on management’s beliefs as well as assumptions made by, and information currently available to, management.

Actual results, performance or achievement could differ materially from those contained in these forward-looking statements. Other unknown or unpredictable factors also could have a material adverse effect on our business, financial condition, results of operations and prospects. Accordingly, readers should not place undue reliance on these forward-looking statements. These forward-looking statements are inherently subject to uncertainties, risks and changes in circumstances that are difficult to predict. Except as required by applicable law or regulation, we do not undertake (and expressly disclaim) any obligation and do not intend to publicly update or review any of these forward-looking statements, whether as a result of new information, future events or otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241016014420/en/

SKUx

Bobby Tinsley – SKUx CEO and Co-founder

bobby@SKUx.io

Kevin Sugarman – Public Relations & Media Requests

ksugarman@globalfluency.com

408.966.4852

Mondelēz International

Xiang Xu – Mondelēz International, Global COE Leader of Digital Strategy and Blockchain

Xiang.Xu@mdlz.com

The Hashgraph Association

Laura Cooley – Hashgraph, Sr. Director PR

laura.cooley@hashgraph.com

Dustin Rotenberg – The Hashgraph Association, Head of Marketing

dustin.rotenberg@hasgraph-group.com

 

Source: SKUx

FAQ

What is the significance of the SKUx and Mondelēz International project with Hedera?

The project represents the first real-world, public adoption of Distributed Ledger Technology (DLT) to track the supply chain of consumer-packaged goods and digital payments, potentially revolutionizing the retail ecosystem.

How does the SKUx and Mondelēz International (MDLZ) project enhance consumer experiences?

The project adds a near real-time digital payment option alongside traditional methods like coupons and paper checks, while also mapping transactions to the Hedera Network, providing an end-to-end secure consumer offer experience with immutable transaction records.

What benefits does Mondelēz International (MDLZ) expect from this digital transformation initiative?

Mondelēz International aims to increase customer satisfaction and engagement by leveraging Web3 technologies to address high volatility in consumer behavior and increasingly complex supply chains.

What is Mondelēz International's (MDLZ) involvement with The Hashgraph Association?

Mondelēz International has joined The Hashgraph Association's Enterprise Accelerator Program, which offers funding, training, and Hedera-powered enterprise-grade solutions to support their digital transformation efforts.