Blockchain Beef Supply Project To Be Launched In Australia
National Transport Insurance (NTI), an Australian motor vehicle insurer, has begun to cooperate with the BeefLedger platform by implementing a pilot blockchain project for exporting beef, CCN reports, referring to local media.
The project aims to improve the preservation of food, safety of exportation, and animals’ well-being. For this purpose, distributed ledger technology will be used along with the Internet of Things and other innovative solutions. They will help transfer data about meat products in real time and create an efficient supply chain.
As a result of the collaboration between NTI and BeefLedger, high-quality Australian meat products will be certified and transported for processing, and then frozen and shipped to China. This whole process will be tracked on blockchain.
The project should play an important role in the strengthening and development of the Australian meat industry since the income from its implementation is one of the main sources of revenues. There are 45 thousand cattle farms in the country, which make Australia the 3rd biggest beef exporter in the world after India and Brazil.
According to Warwick Powell, chief of BeefLedger, the launch of the pilot project is taking place at the right time, as welfare growth in China has led to an increased demand for the beef of Australian producers. However, the risk of food frauds as well as non-compliance with quality standards increase along with this.
As previously reported, two Swiss companies carried out a pilot blockchain transaction when selling wheat.