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National Insurance Insurance (NTI), an Australian transport and transportation company, has revealed that it is collaborating with BeefLedger, an Australian blockchain platform on a pilot program that will implement blockchain technology for end-to-end monitoring of Australian beef exports .
Intended to improve food safety, export safety and animal welfare in Australia, the program will use a distributed accounting platform together with cutting-edge packaging technology and the Internet of Things system to create and deliver data in time real-time on the credentials of beef products and supply chain performance.
Partnership necessary
According to BeefLedger, the goal of the partnership is to use technology to create a multi-layered framework for enhanced security and product credentials, which will undoubtedly be of key interest to NTI due to the potential for reduced insurance risk. Similar projects have been launched in recent months throughout the Asia-Pacific region, as food security and credentials become an increasingly important issue.
In September, CCN reported that the municipal government of Wuchang, in the north-eastern province of Heilongjiang, has launched a similar blockchain partnership with Ant Financial and Alipay in order to stem food fraud and restore consumer confidence in rice high quality of the region after a series of incidents counterfeits. In the same month, it was revealed that Alibaba is working on an anti-fraud anti-fraud blockchain partnership with the global consulting firm PwC in Australia.
NTI's partnership with BeefLedger will see the premium Australian livestock credited and transported with real-time location updates from the Limestone Coast of South Australia to a processing facility in Casino, New South Wales, before being frozen and exported to its market of destination in Shanghai, China.
Expressing optimism about the value-added potential of the program, Tony Clark, CEO of NTI, said:
"We are thrilled by the perspectives it presents in several Australian industry flows: agriculture, animal welfare, transport and logistics – from the beginning, we are optimistic about results and learning, and what it means potentially for Australian suppliers, exporters and consumers. "
The partnership comes at an important time for the Australian beef industry, which is an important source of income for the country's economy, with the country's 45,000 livestock producers making it the third meat exporter in the world after only India and Brazil.
According to the president of BeefLedger Warwick Powell, the pilot program is particularly important because the increase in wealth in China has led to a peak in the demand for Australian beef, which involves a risk of food fraud and poor adherence to safety standards .
In his words:
"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. "
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