A report by Australia’s transport industry magazine Fully Loaded ATN revealed that the country’s National Transport Insurance (NTI) is set to try blockchain technology to improve the supply chain integrity for beef exports abroad.
NTI to partner BeefLedger for blockchain system
Australia’s NTI has reportedly collaborated with BeefLedger, an Australian integrated provenance, blockchain security, and payments platform. The system to be developed by the two bodies is set to combine blockchain with the Internet of Things (IoT) technology to improve product credentials across the supply chain
The pilot system to be developed by NTI and BeefLedger will make use of blockchain technology to track the provenance and production of beef export from the country to Shanghai. The system will be able to track the rearing of the animals from South Australia’s Limestone Coast to its processing facility at Casino in New South Wales, and on to China.
NTI CEO Tony Clark commenting on this latest development stated that “We’re excited by the prospects this presents across several streams of Australian industry: agriculture, animal welfare, transport, and logistics.” Even though it is still in its early stages, the two bodies are optimistic of the outcomes and learning, and what it potentially means for Australian suppliers, exporters, and consumers.
BeefLedger meanwhile stated that the platform will make use of a diverse range of technologies to create a multi-layered system. The system will deliver an enhanced product security and credentialing.
Blockchain technology to be used in this system will be able to provide an immutable record of the provenance, safety, and integrity. With these features, the confidence of suppliers, exporters, and consumers will be boosted. BeefLedger chairman Warwick Powell pointed out that the rise of in wealth across Asia, particularly China, has led to a steady growth in demand for imported beef which has also increased the risk of counterfeiting and poor safety standards.
He stated that “Research shows us that ethical standards and concerns for animal welfare, along with authenticity and proof of product origin, are amongst the top priorities for Chinese consumers. It’s also what is driving consumer interest in Australian products.” With the system currently being developed, ethical standards will be upheld in the industry.
Blockchain systems developed to boost food supply chains
The blockchain system developed by BeefLedger isn’t the first one in the food supply industry. Tech giant IBM had earlier developed “The Food Trust” blockchain in collaboration with Walmart. The system is currently used in tracking food provenance globally, making it easier for companies to identify issues involved with food recalls faster and limit the risks involved. The government of the South Indian state of Kerala recently announced that it would soon start using blockchain technology for food supply and distribution.
Ex Mt. Gox Boss, Mark Karpeles, Found Guilty of Record-Tampering by a Japanese Court
Can Blockchain Help Improve Efficiency in HR?
Quiz: 5 Questions About Cryptocurrency
News4 days ago
Texas House Representative Proposes a Ban on Anonymous Use of Crypto
News4 days ago
Mercado Bitcoin Exchange Wins Case Against Santander in a Brazil Court Ruling
Crypto 1013 days ago
Blockchain and AI convergence: Solutions to Some Critical Applications
News3 days ago
Malta Appoints Ciphertrace to Keep an Eye on Crypto Transactions