On February 14 the company behind Oreo and Cadbury Chocolate, Mondelēz International, announced that it’s joining the Hedera Council, the entity that governs the Hedera Network, “a sustainable public ledger for the decentralized economy.”
This partnership, along with the 30 other organizations that are part of the network, is set to accelerate the integration of blockchain technology into the mainstream economy. Here’s everything you need to know.
Mondelēz International’s Role in Advancing Blockchain within the Hedera Council
As a member of the Hedera Council, Mondelēz International stands alongside 30 other organizations that govern the Hedera Network.
Known for its wide variety of snack products including Ritz and Clif Bar, Mondelēz International’s move to catalyze their use of blockchain tech can be influential given the company’s sheer size. Currently, the organization boasts over 91,000 employees and operates in more than 80 countries.
As part of the council, Mondelēz International will focus its efforts “on digital transformation initiatives, supply chain management, and enriched business processes to enable enhanced customer experiences.”
“Mondelēz International is a global food leader responsible for many of the food brands that today’s consumers enjoy,” said Bill Miller, co-chair of the Membership Committee for the Hedera Council. “We are excited to amplify their voice as part of the Hedera Council towards leading relevant business solutions for the greater CPG and retail ecosystem.”
Anticipated Growth in Blockchain Use, Addressing Retail Industry Challenges
Blockchain technology use is projected to increase worldwide, with the market expected to grow by $103 billion by 2030.
“We are excited to continue our commitment to digital transformation exploring distributed ledger technologies alongside Hedera,” Mondelēz International Global COE Leader of Digital Strategy and BlockChain Xiang Xu said. “The potential to solve long-standing retail industry challenges for consumer-packaged goods companies and merchants is very compelling.”
Hedera At The Forefront Of Development Across The Blockchain Space
Meanwhile, Hedera has made recent headlines for several landmark partnerships and collaborations.
As part of a five-year agreement valued at $250m with the Saudi Ministry of Investment (@MISA), @The_Hashgraph Association has announced the launch of the DeepTech Venture Studio – empowering companies to develop innovative technological solutions. #web3https://t.co/wnqA9H4rm4 https://t.co/Yi6EJWqEh6
— Hedera (@hedera) February 6, 2024
Most recently, the proof of stake blockchain platform came together with the Saudi Ministry of Investment for a $250 million initiative to develop the brand new DeepTech Venture Studio in Riyadh with the goal of “empowering companies to develop innovative technological solutions.”
During a meeting at the World Economic Forum last month, Hedera co-founder Leemon Baird and Ripple CEO Brad Garlinghouse teased the idea of the two firms partnering.
“We’re gonna make sure that we start talking about whether we can collaborate as well,” Garlinghouse stated at the time.