BeefLedger is on a pilot program which will deploy blockchain technology for end-to-end tracking of beef exports in the country.
The idea is to improve the safety of food as well as animal welfare and export security in Australia. The program will be using a distributed ledger platform alongside cutting-edge packaging technology and an Internet of Things system in order to design and provide constant real-time information on beef product data and supply chain performance.
According to the blockchain platform, the aim of the two firms teaming up is to utilise technology to design a multi-layered framework for enhanced product security and credentialing which will most likely be interesting to the insurance company to the potential for reduced insurance risk. There are a few similar projects which have been launched in the recent months across Asia-Pacific area with food safety and credentialing starting to be an important and recognised problem.
The partnership with the platform will see premium Australian livestock credentials and transported with real-time location updates from South Australia’s Limestone Coast to a processing plant in a town in Australia called Casino. This will occur before being frozen and exported to its final destination of Shangai in China. The CEO of the insurance company, Tony Clark has expressed his thoughts on the matter saying that there is real value in the program. Clark continued to say:
“We’re excited by the prospects this presents across several streams of Australian industry: agriculture, animal welfare, transport and logistics. While it’s early stages, we’re optimistic of the outcomes and learning, and what it potentially means for Australian suppliers, exporters and consumers.”
It’s important that this partnership is happening now. As reported by CCN, the Australian beef industry is a vital part of the foreign exchange for profits in the countries economy. There are over 45,000 cattle producers in Australia which makes it the third largest exporter across the globe.
Warwick Powell is the chairman of BeefLedger, and also spoke on the partnership saying:
“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’s driving consumer interest in Australian products.”
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