AN AUSTRALIAN COMPANY IS TESTING BLOCKCHAIN FOR TRACKING MEAT SHIPMENTS

The leading motor vehicle insurance company, National Transport Insurance (NTI), announced the start of testing the beef export supply chain optimization system.

To implement the project, NTI will conclude a partnership agreement with the firm BeefLedger, Australian platform for “integrated proof of origin, the blockchain security and payment platform” that connects the technology of the blockchain and the Internet of things (IoT) for the development of supply chains.

The experiment will cover the supply of meat from Australia to Shanghai. It is noted that Australia is the third largest beef producer in the world, with more than 45 000 companies working in the national industry.

BeefLedger Chairman Warwick Powell explained that the choice of route to Shanghai is caused by “increased risk of forgery and low security standards”.

Earlier, the government of South Korea also announced that the meat national supply will be carried out through the blockchain system.