Blockchain technology in the supply chain is one of the most successful integrations of this ecosystem. The supply chain industry has received the maximum benefit of this new age technology which in fact, has been very well received by all the major retail brands across of the world. One prominent name in this list is Australian agency World Wildlife Fund which has begun using blockchain tools for tracking of food items facilitating both the business growth and consumer health.
The platform is dubbed as OpenSC which has been created in partnership between BCG Digital Ventures (BCGDV), the renowned corporate venture and investment firm of US-based Boston Consulting Group and WWF-Australia. OpenSC platform is dedicated to being used in the product tracking and locating the origin of these products as well as checking their life cycle by the consumer. This is all done with the help of a unique blockchain code which is available at the point of product origin.
The client corporations that are signing up in this scheme receive unique QR codes for their products which are linked with the blockchain platform of OpenSC. WWF-Australia CEO Dermot O’Gorman stated that blockchain based OpenSC facilitates a high standard of transparency about food along with contributing environmental practices as mentioned by Coin Telegraph. Blockchain technology in the supply chain is not just empowering the consumer with apt knowledge but also saving them from disguise dubious sourcing practices. It is speculated that there might be the addition of new schemes which will reach beyond food items like timber and palm oil trade.
Blockchain And Australian Food Industry
According to ABC, the Australian food industry is about to hit the pinnacle with the help of the future technology-based projects which are spreading like fire in their commercial market. There is a global race to spot the origin of the food item by the consumer as they become more conscious of both health and technology. Blockchain technology in the supply chain is certainly leading the distributed ledger form in the international market.[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]