Mondelēz Takes Collaborative Approach to Web3-Based Transformations and Innovations
The No. 18 consumer goods company Mondelēz International, parent to brands like Oreo, Ritz, Clif Bar, Cadbury, and Toblerone, has joined the Hedera Council — a consortium of over 30 companies governing the Hedera network, a sustainable, decentralized public ledger.
The Hedera Council reports that Mondelēz will be collaborating with other organizations to deliver digital transformation initiatives, supply chain management, and elevated business processes that improve the customer experience by leveraging distributed ledger tech (DLT)-based solutions.
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By tapping DLT and Web3 tech, the Council expects Mondelēz to increase business efficiency and sustainability and innovate across customer engagement. As an example, the Council shared that Mondelēz has been working closely with SKUx, a fintech and payments platform company, to add near real-time digital payment options alongside coupons, mailed paper checks, and vouchers. By advancing this tech, the Council expects to be able to track the supply chain of CPG digital payment-based offers in the future.
Xiang Xu, global COE leader of digital strategy and blockchain at Mondelēz, said the company is excited to continue its digital transformation exploring distributed ledger technologies.
"The potential to solve long-standing retail industry challenges for consumer-packaged goods companies and merchants is very compelling," Xu added.
The company has a history of collaborating with others for the improvement of the industry. For example, last year, Mondelēz’s CEO Dirk Van de Put was named co-chair of the Consumer Goods Forum — a two-year position in which Put is tasked with supporting industry-wide action to address worldwide challenges facing our planet.
Additionally, in 2021, the company launched a start-up engagement program, SnackFutures, to help build a portfolio of disruptive brands and serve as a venture pipeline. Participating start-ups receive a $20,000 grant and engage in a 12-week curriculum of virtual and hands-on sessions with networking opportunities.
