June 29, 2021
Blockchain Helps Australia Food And Wine Industry
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Blockchain Helps Australia Food And Wine Industry

Food and wine fraud in Australia costs this government around $1.7 billion annually. The authorities believe that blockchain could be the solution to this issue. In fact, blockchain helps Australia Food and wine industry in order to combat fraud problem.

Rob Allen, the Australia deputy chair, discussed the use cases of blockchain within the supply chain on Sept. 4. The discussion was online, and he talked for over 150 attendees.

In this discussion panel, Allen explained the challenges, which Australia’s agriculture industry is facing with. He mentioned that verifying the authenticity of Australian products in both oversea and local market is the main issue these days.

 

Blockchain helps australia in food and wine industry; fraud problem costs Australia over $1.7 billion

Chloe White is the National Blockchain Lead in Department of Industry. He explains that Australia is one of the major food exporters. He added, blockchain technology could be a solution in order to fight food and wine fraud. As we mentioned above, the food and wine fraud costs Australia over $1.7 billion annually.

The problem is not just for Australia and even other South-East Asian countries are facing with the same issue. In fact, the tracking the original products and misrepresentation are the real issues in this sector.

Many people buy Australian products due to its high quality. But, there are some tactics, which uses by middlemen to reduce the quality and make more profit. For instance, a bottle of Australian water refilled and resold up to seven times throughout China. As another example the Australian oil sold to middlemen, are watered down and resell.

Blockchain can be a solution to those above fraud problems

Blockchain can help this sector to increase trustworthiness and the transparency of the data. It also makes the authentication process easier.

In addition, blockchain technology provides significant efficiency and benefits to save the food agricultural certification industries. This process is now paper-based and blockchain will help to digitize the process.

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