As supply-chain transparency becomes a central issue across the agriculture and food processing industry, KPMG has launched a new blockchain platform for Australia’s food supply chain. Branded as KPMG Origins, the solution leverages blockchain technology to ‘tack and trace’ the food production cycle.
KPMG Origins is endowed with a number of technological facets. Blockchain technology is the highlight, which provides a decentralised and transparent record of each transaction and development across the food supply chain. Origins is also equipped with Internet of Things (IoT) sensors to improve accuracy and speed of recording information.
The solution is designed to support various trading stakeholders in the food production and processing industry to keep track of their materials/products, and to apply data analytical rigour to understand where more transparency is needed. It also helps them fend off fraud and misconduct.
Following its formal launch, which coincided with launches in China and Japan, KPMG Origins is currently being tried out by three major food companies in Australia: food-export company SunRice, Riesling producers Mitchell Wines, and Queensland-based sugarcane farming association CaneGrowers.
The move comes at a time when attention for food legitimacy is at a high following several revelations of fraud in the past years. In response, both consumers are increasingly seeking for supply chain transparency, also as a means to gain insight in the ecological footprint of the groceries they are consuming.
Blockchain is well suited for providing such transparency. Originating in the payments space, and most well known as the technology behind the Bitcoin crypto currency, its model of decentralised nodes and infrastructure backbone make blockchain ideally suited to keep track of ‘flows’ between parties.
Earlier this year, the World Wide Fund for Nature (WWF) developed a blockchain platform that presents all supply chain information of a…