Australian food producers are trialling a new blockchain platform from KPMG to help keep track of their products across the globe.
KPMG in Australia, China and Japan today launched KPMG Origins, a blockchain-based ‘track and trace’ platform to support industries including agriculture, resources, manufacturing and financial services.
The platform brings together a number of emerging technologies including blockchain, internet of things sensors (IoT), as well as data and analytics tools to provide transparency and traceability to trading partners across complex industries.
KPMG Origins allows these trading partners to communicate unique product information across their supply chains, and in particular to end users, while reducing operational complexities.
SunRice, one of Australia’s largest food exporters,leading riesling producer, Mitchell Wines and Canegrowers, the peak body for Queensland’s sugarcane farmers are trialling the platform.
Ken Reid, ASPAC Head of Advisory and Partner, KPMG Australia commented: “The supply chains of the 21st century are faster, more interconnected, and require sharing greater amounts of data than ever before. From agriculture to financial services, the complexity of supply chain ecosystems creates operational risks, reconciliation challenges as well as safety concerns. KPMG Origins’ goal is to solve these problems by providing independent third-party verification and certification of data and processes.”
Canegrowers is working with KPMG to scope the application of blockchain as a way to demonstrate the sustainability credentials of sugar produced in Queensland and to ultimately drive a return to growers in recognition of their environmental sustainability practices.
“There is increasing demand on growers to demonstrate their sustainability practices, yet there is no way for them to be recognised or rewarded for their investment,” said Matt Kealley Senior Manager – Membership Engagement & Innovation at Canegrowers.
“In Canegrowers view, if there’s demand for sustainable sugar, surely there’s some value there. A blockchain solution, such as KPMG Origins, could provide a platform which will enable end-users to capture the sustainability credentials of the product directly from the grower to customer. By working together as an industry to explore cutting-edge tech such as blockchain, we are exploring ways to get value back to growers and the Queensland sugar industry.”
KPMG Origins is being rolled out across Asia Pacific as part of the regional firms’ broader investment in blockchain capability ranging from consulting advice to technology delivery, build and service operation.