Wholechain selects Algorand as new blockchain provider to improve supply chain visibility

Having a blockchain with zero downtime, branching and carbon footprint will enhance Wholechain’s capacity to serve governments, non-profits and some of the world’s biggest brands

SINGAPORE and BLOOMFIELD HILLS, Mich., 8 September 2022 /PRNewswire/ — Full chainthe blockchain-based traceability solution built to enable trust, coordination and transparency in fragmented supply chains, today announced a partnership with Algorand Foundationwhose mission is to grow the ecosystem to Algorandthe carbon-negative Layer 1 blockchain invented by the Turing Award winner and MIT professor Silvio Micali.

Currently, many supply chain operations remain opaque across industry verticals. MIT Sloan has found that 81 per cent of companies do not have full visibility into their supply chains, and 54 per cent have no visibility at all. Consumers, retailers and auditors cannot easily verify claims about sustainable, ethical and responsible procurement. This hurts sellers; 94 percent of consumers are more likely to be loyal to a brand that offers complete supply chain transparency. For distributors, supply chain management remains difficult and expensive. This is reported by the UN’s Food and Agriculture Organization (FAO). supply chains cause 40 percent of food waste North America.

Wholechain and Algorand step into the gap of blockchain-enabled traceability without the carbon footprint historically associated with blockchain. The solution enables companies to trace products to their origin, have visibility at every step of the way, and verify claims about these products. In this partnership, Algorand will be the default blockchain for Wholechain’s updated offering (version 4), which has an improved user experience.

“It is extremely important to Wholechain and our customers that we partner with a blockchain that is scalable, reliable and secure, with a minimal carbon footprint,” said Jayson Berryhill, co-founder of Wholechain. “Choosing Algorand as our go-forward partner for our latest release was a no-brainer. Beyond the clear technical benefits, the fact that Algorand is mission-oriented with regard to environmental responsibility made the choice clear. We are grateful to the Algorand Foundation for their partnership and collaboration, and we are excited about the roadmap of innovations we will deliver for global supply chains.”

“We are passionate about Wholechain’s mission because, as the pandemic clearly demonstrated, the world desperately needs well-functioning and efficient supply chains,” said Matt Keller, director of impact and inclusion at the Algorand Foundation. “We look forward to the day when everyone, including major humanitarian organizations, major consumer brands and small farmers, can track agricultural products up and down the supply chain, building trust in the market and empowering consumers and growers alike.”

Wholechain’s team will transfer existing customers to the new version from the beginning of September. Wholechain meets GS1 data standards such as EPCIS and industry standards such as the Global Dialogue on Seafood Traceability, enabling end-to-end data sharing across supply chains. Robust APIs have also been added for integrations within customers’ businesses.

ALGORAND FOUNDATION
The Algorand blockchain — designed by MIT professor and Turing Award-winning cryptographer Silvio Micali — is uniquely able to deliver on the promise of one limitless global economy. It achieves transaction throughputs at the speed of traditional finance, but with instant finality, near zero transaction costs, and on a 24/7 basis. Its carbon-neutral platform and unique pure proof-of-stake consensus mechanism solve for the “blockchain trilemma“by achieving both security and scalability on a decentralized protocol, and without a second of downtime since it went live in 2019.

The Algorand Foundation is dedicated to helping fulfill the global promise of the Algorand blockchain by taking responsibility for its healthy financial supply economy, decentralized governance, and healthy and prosperous open source ecosystem. For more information, visit https://algorand.foundation

WHOLE CHAIN
Full chain is a blockchain-based traceability solution built to enable trust, coordination and transparency in fragmented supply chains. Full chain works across goods, enabling businesses to manage risk and increase efficiency while enabling consumers to make more responsible decisions. Full chain is part of a number of industry initiatives for interoperability, including GS1’s Seafood Industry Blockchain Interoperability POCand is a former winner of Fish 2.0 Competition at Stanford for Supply Chain Innovation, and a winner of the FDA’s New era of smarter food safety Food traceability challenge. Find out more at Wholechain.com.

CONTACTS
Prosec Partners, on behalf of Algorand Foundation
[email protected]

Full chain
[email protected]

SOURCE Algorand Foundation