L-R: Marcus Sweeney, chief information officer, NTI; Charles Turner-Morris, director, BeefLedger; Tony Clark, chief executive officer, NTI; and Warwick Powell, chairman, BeefLedger.
Specialist transport insurer NTI is taking part in a blockchain trial, with the aim of boosting food safety, improving animal welfare and monitoring export security for Australian beef.
BeefLedger, an Australian integrated provenance, blockchain security and payments platform will deploy a pilot initiative that tracks the paddock-to-plate journey of premium Australian beef, abroad.
NTI CEO Tony Clark said the reasons for backing the trial are varied, but in a snapshot, it is supporting Australian businesses.
“We’re excited by the prospects this presents across several streams of Australian industry: agriculture, animal welfare, transport and logistics,” said Mr. Clark.
“While it’s early stages, we’re optimistic of the outcomes and learning, and what it potentially means for Australian suppliers, exporters and consumers.”
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.
BeefLedger chairman Warwick Powell said the rise in wealth across Asia, particularly China, sees a steady growth in demand for imported beef and 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,” said Mr Powell.
BeefLedger is a platform developer and technology integrator, which is rolling out a blockchain technology, packaging innovations and Internet of Things digital systems to improve product credentials and supply chain performance. The platform deploys a diverse range of technologies to create a multi-layered system that delivers enhanced product security and credentialing.
The Australian beef supply chain is integral to the Australian economy, with some 45,000 cattle producers across the country contributing to Australia’s position as the third largest beef exporter in the world.