Technology
KPMG Trials Blockchain Platform with Australian Companies
The focus is the food industry - SunRice, Mitchell Wines and CaneGrowers will test KPMG Origins
KPMG Origins is a blockchain “track and trace” supply chain platform created by KPMG. It has launched in Australia, as well as China and Japan, and will be trialled in the Australian sugar cane, food export, and wine industries.
The platform has been designed specifically for the agricultural, resources, manufacturing, and financial services industries, to provide transparency and traceability between trading partners.
KPMG Origins will allow its users to share unique product information throughout supply chains as well as to end-users, “whilst reducing operational complexities,” explains the press release.
KPMG not only uses blockchain for provenance, but it also combines other emerging technologies, including the Internet of Things (IoT) and data and analytics tools.
CaneGrowers, an organisation for sugarcane producers in Queensland, Australia, as well as SunRice, one of the country’s largest food exporters, will be trialling KPMG Origins. They will be joined by a major Riesling producer, Mitchell Wines.
Ken Reid, ASPAC Head of Advisory and Partner at KPMG Australia says 21st century supply chains “are faster, more interconnected, and require sharing greater amounts of data than ever before.”
This creates operational risks, “reconciliation challenges,” and safety concerns within supply chains. To solve these challenges, KPMG Origins will provide “independent third-party verification and certification of data and processes.” The platform will also help to enable global trade.
For CaneGrowers this trial manifests as using blockchain to demonstrate the sustainability of sugar and to recognise and reward growers for better environmental practices.
KPMG Origins has been previously tested and is now ready to be trialled amongst a more complex group of stakeholders. Laszlo Peter, KPMG Head of Blockchain Services for Asia Pacific adds:
“The platform is based upon in-depth work across highly specialised areas, as well as collaboration across multiple jurisdictions to deliver a multi-lingual, standards and taxonomy driven platform that accelerates the development of distributed ecosystems.”
It will be rolled out across Asia Pacific, as per KPMG, as part of the company’s regional “broader investment,” in blockchain capability, “ranging from consulting advice to technology delivery, build and service operation.”
KPMG joins several technology companies in utilising blockchain for food and supply chain provenance in answer to growing consumer demand for ethical and proven product sources. In October, Topco revealed it would use Envisible Wholechain, a platform built with Mastercard’s Provenance Solution. This summer Bumble Bee Foods announced it would use SAP’s cloud-based blockchain platform to track yellowfin tuna from ocean to store.
