NTI in blockchain trial for agriculture

Date: 10.12.2018

Insurer partners with BeefLedger with view to enhance export security

Clockwise from top right: NTI chief information officer Marcus Sweeney; BeefLedger chairman Warwick Powell; NTI CEO Tony Clark; BeefLedger director Charles Turner-Morris

Truck and transport insurer National Transport Insurance (NTI) has announced it is participating in a blockchain trial which it says aims to boost food safety, improve animal welfare and monitor export security for Australian beef.

BeefLedger, an Australian integrated provenance, blockchain security and payments platform will deploy a pilot initiative this month that tracks the paddock-to-plate journey of premium Australian beef abroad.

The blockchain technology, packaging innovations, Internet of Things digital system will aim to improve product credentials and supply chain performance.

BeefLedger says the platform deploys a diverse range of technologies to create a multi-layered system that delivers enhanced product security and credentialing.

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.

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"We’re excited by the prospects this presents across several streams of Australian industry: agriculture, animal welfare, transport and logistics," NTI CEO Tony Clark says.

"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 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.

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," Powell says.