Two Australian companies – Blackmores and Fonterra – are taking part in a world first trial which uses blockchain technology to improve supply chain traceability.
In the US, customers of Coda Coffee Co. in Denver can use a QR code linked to their batch of coffee to see the date and location of every transaction.
The Food Trust Framework, as it’s known, will see Blackmores ship Odourless Fish Oil while Fonterra will ship Anchor dairy products to consumers who purchase them on a global platform called Tmall, which enables businesses to reach China’s growing consumer market.
Developed by bext360, the company’s mission is to use technology to improve global supply chains for agricultural products, allowing the consumer to interact directly with the communities that provide the goods.
Once complete, the framework aims achieve end-to-end supply chain traceability and transparency.
The hope is it will enhance consumer confidence and build a trusted environment for cross-border trade.
The technology is designed to authenticate, verify, record and provide ongoing reporting of the transfer of ownership and provision of products and goods.