Australia’s leading specialist insurer NTI is excited to be taking part in a blockchain trial, set to boost food safety, improve animal welfare and monitor export security for Australian beef.
This month, 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’s CEO Tony Clark, says the reasons for backing the trial are varied, but in a snapshot – it is the alignment with NTI’s commitment towards supporting Australian businesses that really “hit home” for the organisation.
“We’re excited by the prospects this presents across several streams of Australian industry: agriculture, animal welfare, transport & 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 says 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, Internet of Things digital system 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.
“We’re committed to being specialists in our market, partnering with experts, and supporting hardworking Australians,” said NTI’s Tony Clark.
“We’re proud to be standing beside BeefLedger and their collaborators, to back this initiative”.
For more information on BeefLedger visit www.beefledger.io.