Article first appeared on Ledger Insights on November 28, 2019
Consultancy firm KPMG has launched a blockchain-based track and trace platform in Australia, China and Japan. Dubbed as KPMG Origins, the solution leverages blockchain, Internet of Things (IoT) sensors, as well as data and analytics tools to provide transparency and traceability for numerous industries.
The goal of the platform is to communicate product information across the supply chains and for the end-user. The solution has already run pilot tests in the three countries. While KPMG says the platform can be used for supply chains of various industries, the first examples are for food traceability.
Organizations trialling KPMG’s solution include CANEGROWERS, the body for Australian sugarcane growers, Australian food exporter SunRice, and vineyard Mitchell Wines.
“From agriculture to financial services, the complexity of supply chain ecosystems creates operational risks, reconciliation challenges as well as safety concerns,” said Ken Reid, ASPAC Head of Advisory and Partner, KPMG Australia. “KPMG Origins’ goal is to solve these problems by providing independent third-party verification and certification of data and processes.”
CANEGROWERS focus is to verify the sustainability credentials of sugar produced in Queensland.
“There is increasing demand on growers to demonstrate their sustainability practices, yet there is no way for them to be recognized or rewarded for their investment,” said Matt Kealley, Senior Manager at CANEGROWERS. The hope is this will increase revenues.
KPMG, one of the Big Four accounting firms, has several other blockchain initiatives. The firm has partnered with Blockchain in Transport Alliance (BiTA) to help develop standards for the transport industry. Last year, KPMG worked with Singapore Airlines to develop a digital wallet for the latter’s blockchain loyalty program.
However, KPMG Origins is the accounting firm’s first product-based blockchain service, while most previous collaborations involved an advisory role. The platform’s current focus on food traceability is an area seeing many blockchain use cases.
Australian blockchain firm BeefLedger has developed a provenance platform for beef exports to China, the biggest market for Aussie beef. Two other Australian firms, Thomas Foods International and Drakes Supermarket, have previously trialled the IBM Food Trust blockchain.
Australia is home to another significant supply chain project with a focus on sustainability. Called OpenSC, the sustainability venture was initiated by WWF Australia and a unit of Boston Consulting Group. Two months ago, OpenSC announced a $4 million seed round funding.