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It seems that the bear market that consumed the value of cryptocurrencies has in no way influenced the adoption of blockchain technology, as the speed with which the technology is applied will not slow down in a short time. An Australian government agency wants to use it to track the movement of livestock before they reach final consumers. According to its press release, the Australian National Transport Insurance (NTI) will launch a blockchain test to help ensure food safety.
The agency wants to exploit blockchain technology as a means to improve the integrity of the supply chain in the country, especially for agricultural products such as beef. NTI will collaborate with BeefLedger, an Australian blockchain company that provides a wide range of blockchain solutions and a payment platform to help make this reality objective, to create a platform that can be used to monitor the beef supply chain.
BeefLedger says the platform will provide various technologies that will develop a multi-tiered system that provides better product credentials and security.
To ensure that beef supplies are better monitored, partners will use packaging innovations, blockchain technology and the Internet of Things (IoT) digital system.
Blockchain Pilot for Australian Beef
Developed by BeefLedger and NTI, the pilot will be used to monitor Australian beef production and the export process in Shanghai, China. The livestock will be raised in Limestone Coast, transported to a processing plant at Casino, in New South Wales and then in China. The project should be broad enough, considering how important is the Australian beef supply chain for the entire Australian economy. The country is home to about 45,000 livestock producers, all contributing to the country's ranking as the third largest producer and exporter of meat in the world.
The Australian beef industry currently has a value of about $ 12.7 billion and consists of a complex and highly diversified value chain that includes construction sites, farms, livestock, transport systems, transformers and customers such as restaurants and retailers.
The blockchain, with its immutable ledger, can be easily integrated into this process, and is expected to play a significant role in helping both companies ensure the integrity of the beef that is being sold. In this way, the two companies believe that they will be able to help strengthen the trust of the people who buy and consume Australian meat, both at home and abroad.
Tony Clark, CEO of NTI, who was entranced by the partnership, said:
"We are thrilled by the perspectives that this presents in different Australian industry flows: agriculture, animal welfare, transport and logistics.From the early stages, we are optimistic about results and learning, and what it potentially means to Australian suppliers, exporters and consumers. "
According to the president of BeefLedger, Warrick Powell, Asia is one of the markets with the greatest growth potential, and this increase in the continent's wealth, especially in countries like China, means that the demand for imported beef will grow in agreement. This increase in demand could result in a higher risk of inadequate security standards and counterfeiting, an area where standardization is needed, a goal that both organizations are interested in resolving with this project.
"Research shows us that ethical standards and concerns about animal welfare, together with authenticity and proof of the origin of the product, are among the main priorities for Chinese consumers. guiding consumers' interest in Australian products, "Powell noted in the statement
The NTI-BeefLedger partnership is only the latest move to adopt blockchain technology for food standardization. The IBM technology giant has also collaborated with Walmart to develop the "The Food Trust" blockchain. A network with the objective of monitoring the global food origin and allowing companies to have a broader view of the issues related to food recalls, how to easily trace the causes of food contamination and reduce the level of risk that customers must face up to.
