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One of the Big Four, KPMG, has announced the launch of a blockchain-based ‘track and trace’ platform in Australia, China and Japan.
Called KPMG Origins, the platform leverages a number of innovative technologies including blockchain and internet of things sensors (IoT), along with data and analytics tools. The objective is to enable global trade and provide a competitive edge for Australia industries, helping them demonstrate the provenance of their product on a global level.
The platform will provide transparency and traceability to trading partners across multiple industries including agriculture, resources, manufacturing and financial services. These trading partners will be able to better communicate unique product information across their supply chains, particularly to end users, while reducing operational complexities.
"From agriculture to financial services, the complexity of supply chain ecosystems creates operational risks, reconciliation challenges as well as safety concerns. KPMG Origins’ goal is to solve these problems by providing independent third-party verification and certification of data and processes,” Ken Reid, ASPAC Head of Advisory and Partner, KPMG Australia said.
According to a press release, CANEGROWERS, the peak body for Queensland’s sugarcane growers; SunRice, one of Australia’s largest food exporters; and leading riesling producer, Mitchell Wines are already trialing the platform.
The project with CANEGROWERS is focused on exploring the potential of blockchain to demonstrate the sustainability credentials of sugar produced in Queensland and thereby driving a return to growers in recognition of their environmental sustainability practices.
CANEGROWERS Senior Manager – Membership Engagement & Innovation, Matt Kealley believes in the potential of KPMG Origins to provide a platform that will enable end-users to capture the sustainability credentials of the product directly from the grower to customer.
“By working together as an industry to explore cutting-edge tech such as blockchain, we are exploring ways to get value back to growers and the Queensland sugar industry,” he said.
The launch of KPMG Origins follows pilot implementations with clients across Australia, China and Japan, KPMG said, adding that the platform is being rolled out across the Asia Pacific as part of the regional firms’ broader investment in blockchain capability.
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