Blockchain To Be Used To Fight Counterfeit Food Sales In China
To reduce the risk of fraud and maintain food quality, Alibaba, the Chinese wholesale company, Australia Post, the Australian postal corporation, and Blackmores, a natural health company, are teaming up to utilize the blockchain to prevent counterfeit food sales in China. The project will also benefit from the expertise of PWC, which will act as an advisor.
"We are delighted Alibaba has invited us to create an innovative platform, which will track food from paddock to plate, strengthening the supply chain," said Bob Black, Australia Post’s Executive General Manager, Parcel and eCommerce Services.
China has seen many instances of food fraud, which poses as one of the biggest issues facing the global food industry, threatening consumers’ health, consumers’ trust in companies, and consumers’ confidence with their government. According to Australia Post, “counterfeiters have targeted popular Australian products such as health supplements, beer and wine, honey and cherries.” With China being Australia’s largest export market for agricultural and seafood products, Australian food exporters have much to lose.
Consequently, the companies joined forces to create a platform to safeguard public health and the China-Australia trade relationship by increasing transparency of food exports using blockchain technology. This move ensures that Australia remains a trusted exporter of high quality food products.
"The initiative will leverage our secure, reliable and fast service to support the authentication of Australian products bound for the Chinese market. Our food producers have a global reputation as being a clean, green and safe provider of food and we are pleased to help deliver a solution to enhance the integrity of their produce."