Thursday, 28 November 2019 10:56

KPMG using blockchain to send product info across supply chains

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KPMG using blockchain to send product info across supply chains Pixabay

Professional services firm KPMG has launched a blockchain track and trace platform known as KPMG Origins in Australia, China and Japan.

A statement from the company said organisations testing out the platform included CANEGROWERS, the peak body for Queensland sugarcane growers, food exporter SunRice and riesling producer Mitchell Wines.

KPMG Origins allows those using the blockchain to communicate product information across supply chains and also reduce complex operational procedures.

In the case of CANEGROWERS, it is looking to gauge the application of blockchain to demonstrate "the sustainability credentials of sugar produced in Queensland and to ultimately drive a return to growers in recognition of their environmental sustainability practices".

Ken Reid, the APAC head of Advisory and Partner, KPMG Australia, said: "The supply chains of the 21st century are faster, more interconnected, and require sharing greater amounts of data than ever before.

"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.”

KPMG did not mention the organisations testing out the blockchain in China or Japan.

CANEGROWERS senior manager – Membership Engagement & Innovation, Matt Kealley, said: “There is increasing demand on growers to demonstrate their sustainability practices, yet there is no way for them to be recognised or rewarded for their investment.

"In CANEGROWERS' view, if there’s demand for sustainable sugar, surely there’s some value there. A blockchain solution, such as KPMG Origins, could provide a platform which 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.”

KPMG Origins has been devised to enable global trade, and provide a competitive edge for Australian industries to demonstrate the provenance of their product internationally. The rollout follows pilot implementations with clients across Australia, China and Japan.

Laszlo Peter, KPMG's head of Blockchain Services for Asia Pacific said: "KPMG Origins is the result of several successful initial trials with clients to understand industry pain and trust points, map incentive structures, and create a platform to add real value. To move beyond the hype, it is necessary to introduce complex technology across a diverse set of corporate stakeholders.

"The platform is based upon in-depth work across highly specialised areas, as well as collaboration across multiple jurisdictions to deliver a multi-lingual, standards and taxonomy driven platform that accelerates the development of distributed ecosystems."

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Sam Varghese

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Sam Varghese has been writing for iTWire since 2006, a year after the site came into existence. For nearly a decade thereafter, he wrote mostly about free and open source software, based on his own use of this genre of software. Since May 2016, he has been writing across many areas of technology. He has been a journalist for nearly 40 years in India (Indian Express and Deccan Herald), the UAE (Khaleej Times) and Australia (Daily Commercial News (now defunct) and The Age). His personal blog is titled Irregular Expression.

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