Australia’s National Transport Insurance (NTI) To Use BeefLedger Blockchain For Food Safety Testing

Australian Transport Insurance Partners Start Using The Blockchain For Food Safety Trial

As the bear market is little by little eating away all the crypto market, the companies that are being most successful now are the ones who are using the blockchain technology in order to use new technologies while not relying on something as volatile as cryptos. Now, Australia’s National Transport Insurance (NTI) has recently announced a new blockchain trial for food safety.

The idea is to use the blockchain technology to improve the integrity of the supply chain for beef exports in the country. The company will partner with another company called BeefLedger, a Australian blockchain company that offers a payment platform and blockchain solutions.

Both companies are reuniting to use the Internet of Things (IoT) and the blockchain in order to track the beef supplies better.

The Pilot

The pilot created by NTI and Beefledger will be used to track the production of Australian beef and its exportation process to Shanghai, following it all the way from the Limestone Coast where the cattle are raised, the from the processing facility at Casino in New South Wales and then to China. The project will be quite big as Australia is the third largest beef exporter in the whole world.

As the blockchain has an immutable ledger, it can easily be used for this kind of process and will help to keep the integrity of the beef that is being sold. This, the two companies believe, will boost the confidence of the people buying in other countries.

In the beginning, the only route in which the process will be used will be Australia-China, as, according to Warwick Powell, the chairman of Beefledger, there is a great demand in this route and an increased risk of counterfeiting and poor safety standards which could hurt the economy and the whole operation.

According to Powell, all research so far indicated that the use of ethical standards and especially concerns for animal welfare and the authenticity of the products are priorities for both the Chinese authorities and consumers.

Using Blockchain For Tracking The Supply Chain Is Becoming Normal

An increasingly big number of important companies is using the blockchain technology to track their own supply chain better than using the old-fashioned systems. For instance, IBM and Walmart have partnered up to do it and their services are aimed to track food provenance and identify issues that can cause food recalls like contamination of the goods.

Many other companies like Carrefour are doing the same, so the market slowly moves towards the blockchain as something that can be used in their supply chains.

Get Daily Headlines

Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

What to Know More?

Join Our Telegram Group to Receive Live Updates on The Latest Blockchain & Crypto News From Your Favorite Projects

Join Our Telegram

Stay Up to Date!

Join us on Twitter to Get The Latest Trading Signals, Blockchain News, and Daily Communication with Crypto Users!

Join Our Twitter

Add comment

E-mail is already registered on the site. Please use the Login form or enter another.

You entered an incorrect username or password

Sorry, you must be logged in to post a comment.
Bitcoin Exchange Guide