1 month ago- News -
Bring Back the Beef… on Blockchain
Monday, December 10, according to multiple news sources, blockchain technology has the ability to turn the beef industry upside down. Agriland, an Irish agricultural resource detailed a Deloitte report stating ‘blockchain tech could transform beef supply chain’, while Australiasian Transport News (ATN) reported on National Transport Insurance (NTI) are trialing blockchain to boost food safety, animal welfare and export security for Australian beef.
Touching upon the Irish story first, according to international professional services network, Deloitte, blockchain technology could ‘transform’ the Irish beef supply chain. Due to increase global demand for beef, as well as ever-increasing quality and safety standards, Deloitte report there to be a much greater need for end-to-end traceability, an inherent factor in blockchain.
The report, Beefing up Blockchain, details the advantages a distributed, secure and open ledger would have for the beef supply chain. Among the features Deloitte mention as lacking, listed above, that blockchain would enable, it would simultaneously reduce supply chain expenses, enhance data communication, improve quality assurance, and achieve more streamlined import and export processes.
As stated on the ‘Beefing up Blockchain’ landing page: “The six use cases identified for the technology, presented in this report, that can create significant value for the industry’s end-to-end supply chain and more over sustainability and safety are: Grass Fed Assurance, End-to-End Traceability, Trade Finance, Consumer Engagement, Consumer Feedback Loop, Certification”
Transitioning to another internationally recognized top-tier beef producer, Australia, this month, BeefLedger, an “integrated provenance, blockchain security and payments platform” will be deployed as a pilot initiative to track “paddock-to-plate journey of premium Australian beef abroad”. According to the ATN report, BeefLedger will leverage IoT and blockchain to improve product credentials and supply chain performance.
“The pilot run will see premium live cattle transported from South Australia’s Limestone Coast to the processing facility at Casino in New South Wales and frozen for shipping to Shanghai for consumption.”
The pilot is run by National Transport Insurance (NTI), Australia’s largest truck insurance company, with over 45,000 cattle producers in Australia, the supply chain, is understandably, incredibly complex. According to the report, Australia is the third largest beef exporter in the world, and demand is ever-increasing as wealth rises across Asia, particularly China.
According to BeefLedger chairman, Warwick Powell, this increased demand in China comes with increased risk of counterfeiting and poor safety standards, "Research shows us that ethical standards and concerns for animal welfare, along with authenticity and proof of product origin, are amongst the top priorities for Chinese consumers. It’s also what’s driving consumer interest in Australian products,"