Blockchain will be used to control oats supplies in Australia
CBH Group, the biggest grain importer in Australia, and the Sydney-based AgriDigital startup, combined their efforts in the pilot project aimed at grain supplies control via blockchain, tells CoinDesk citing The Australian Financial Review.
The pioneer in this new technology for supplies tracking track will be Blue Lake Milling, the oats processor from South Australia. If the project proves to be successful, CBH Group plans to add its own reserves from West Australia (costing 4 billion USD).
Andy Crane, the chief executive of CBH Group, believes that blockchain-verified tracking of grain origins and its quality control results demonstrated to potential customers will increase their trust – and sales by Australian grain producers. The long-term goal of such producers is expansion to more competitive Asian markets.
CBH is not the first company that launched a blockchain-based goods tracking project. The Chinese Alibaba platform and Fonterra, the dairy producer from New Zealand, in cooperation with Blackmores, the vitamin and supplement supplier, and various Australian and New Zealand postal services – they all participate in this big joint project which is similar to the aforementioned and includes various measures to prevent fraud in food supply chains. Another blockchain food supply control project is commenced by Walmart together with IBM and Chinese Tsinghua University in Beijing.
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