Alibaba and blockchain technology to drive food safety and quality
Alibaba (Australia) Company Pty. Ltd. will engage PwC firms in New Zealand, Australia and China to provide services and advice relating to Alibaba’s intention to build greater trust in food—right across the supply chain. A memorandum of understanding was signed today setting out Alibaba’s intentions and the involvement of Fonterra and NZ Post. The signing of the agreement took place at a ceremony at PwC Tower in Auckland. The aim of the partnership is to develop a framework to lead food quality and safety standards and provide the basis for improvement in food trust practices and integrity. It is envisaged that this framework will be piloted in Australia and New Zealand and form the basis of a global supply chain model that will be applied across all of Alibaba Group’s markets. The project will enhance traceability models and introduce new technologies to stop the production of counterfeit and fraudulent food products. This will include the development of a pilot blockchain technologies solution model to be used by participants across the supply chain. Blockchain technologies, often referred to as the “internet of trust”, were originally developed to publicly and irrefutably track the transfer of Bitcoin and other cryptocurrencies. These technologies authenticate, verify, permanently record and provide ongoing reporting in relation to the transfer of ownership and providence of goods, and are now finding much wider application in many different industries. Speaking at the signing of the ceremony, Maggie Zhou, Managing Director of Alibaba Group Australia and New Zealand, said: “Food safety and quality is a serious global issue that not only costs the food industry billions every year, but puts consumers’ health at risk. The signing of today’s memorandum is the first step in creating a globally respected framework that protects the reputation of food merchants and gives consumers further confidence to […]