Blockchain tech opens new doors
Blockchain technology could provide full-life traceability of beef products and deliver $115 million in additional sales from Australian farmers by 2025.
The innovative product labelling that uses blockchain technology to demonstrate the traceability of Australian beef was on show this week at Beef Australia in Rockhampton.
The project was the result of a collaboration between Argyle Foods Group, Meat and Livestock Australia and KPMG, and targets significant export markets across South East Asia, with a focus on China.
Argyle Foods Group, a fully vertically integrated meat processing operation, has the ability to provide international beef retailers a comprehensive paddock-to-plate story of individual packs of beef.
By using KPMG’s blockchain-based traceability platform, Argyle Foods Group co-chief executive Lachlan Graham said the three years of development was towards understanding the various Asian markets and consumers.
“Addressing one of our key market access challenges, we’ve worked closely with our retailers and MLA to develop a unique ‘snap frozen’ product and supply chain that has reduced our costs by 80 per cent,” he said. “This has provided Argyle increased available working capital to significantly expand our exports.”
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