KPMG, a member of the Big Four audit firm, has officially instigated a track and trace platform supported by Blockchain across Japan, China, and Australia.
According to the firm’s announcement on November 28, the tool, which is created to upsurge traceability and transparency within a multitude of industries, was named KPMG Origins.
The press release noted that KPMG Origins’ launch in the countries mentioned above would come after the successful initial implementations with clients residing in those countries.
SunRice and Cane Growers as test partakers
The trial partakers of KPMG Origin include Canegrowers, an Australian peak body for sugarcane growers, as well as SunRice, one of the largest food exporter brand in the country.
As the audit firm stated, the primary goal of the KPMG Origins is to develop supply chain procedures by integrating it into evolving technologies like the Internet of things as well as Blockchain.
The newly released platform lets trading associates communicate product records across their supply chains coming to the end-users while decreasing operational difficulties.
The increasing demand for sustainability to be met through Blockchain technologies
According to Matt Keally, a membership engagement and innovation senior manager at Canegrowers, the blockchain technology carries a possibility to aid meeting the proliferating demand for sustainability practices of farmers.
Furthermore, Keally noted that blockchain solutions like KPMG Origins could help create a platform that will let end-users to catch the sustainability qualifications of the product straight from the grower to consumer.
On the contrary, a Pwc agribusiness executive debated that Blockchain gives traceability misconception to supermarket chains and customers and that physical points of entry are not infallible.