Big Four Audit Firm KPMG Launches Its Blockchain-based Tracking Platform KPMG Origins
Big Four audit firm KPMG announced the launch of its blockchain-based tracing and tracking tool called KPMG Origins. The new tool is said to bring in more transparency and traceability in the supply-chain field of numerous sectors such as Agriculture, manufacturing, and finance.
The tool has been launched in China, Australia, and Japan for now where the firm first ran a pilot program to check the functionality of the tool, and only after successfully passing that, the tool has been officially launched.
KPMG Origins incorporate blockchain as well as, the Internet of things to improve supply chain processes by enabling the trading partners to monitor their product throughout the journey in real-time.
During the pilot program, a number of people from different industries applied for the trial pilot project. Some of the participants were SunRice, one of Australia's largest food exporters, Canegrowers, a sugarcane growers association, and a Vineyard.
Blockchain technology has been extensively used for supply chain management in recent times, amid growing demands by consumers to know more about the food they buy at the grocery store or supermarket. Matt Kelley, senior manager at membership engagement and innovation at Canegrowers,
“A blockchain solution, such as KPMG Origins, could provide a platform that will enable end-users to capture the sustainability credentials of the product directly from the grower to the customer.”
Big Four companies show Great Interest in Emerging tech
Deloitte, PwC, EY, and KPMG all the Big Four company has shown vested interest towards emerging technology of DLT and Blockchain. Recently EY introduced its blockchain platform for public funds, while earlier PwC has partnered with ConsenSys-backed identity management protocol support in order to develop an identity management system.
Given Big Four companies accounted for the auditing of more than 50% of the global audits, their interest in blockchain and crypto could be a great thing for crypto adoption.