The government of Australia has given A$2.25 million ($1.7 million) to the Sustainable Sugar Project, as Foodnavigator-Asia reported on July 30.
Blockchain Knows Where It Comes From
Run by the Queensland Cane Growers Organization, The Sustainable Sugar Project will be using blockchain to track the provenance of sugar supplies within Australia. The technology will purportedly enable purchasers to clearly observe where sugarcane originates from and demonstrate the provenance of the farm.
Distributed Ledger Diffusing in Supply Chains
Blockchain ended up being an aid for logistics and supply networks and is generally viewed as a cheaper and more effective approach to track complex supply chains all around the world.
Yesterday, July 31st, the Commonwealth Bank of Australia declared that it had successfully finished an exchange of 17 tons almonds with Europe utilizing blockchain. The platform, being a part of an effort of five “supply chain leaders,” is supported by distributed ledger technology (DLT), Internet of Things (IoT), and smart contracts.