The Big Four auditing company KPMG launches its blockchain-based track and trace platform in Australia, Japan and China, the latest blockchain news show. Dubbed KPMG Origins, the new supply chain tool is designed to increase the transparency and traceability of processes in different industries such as agriculture, manufacturing as well as financial services.
In an official announcement, the firm said that the launch in Australia, China and Japan comes after successful pilot implementations with clients in these countries. The press release also notes that as KPMG launches its DLT supply chain tool, it also incorporates a number of emerging technologies like blockchain and the Internet of Things.
With all of this, KMPG launches a tool that aims to improve supply chain processes. The platform will enable trading partners to communicate product data across their supply chains and end users while reducing operational complexities, as the company stated.
The KPMG Origins and its trial will include participants such as SunRice, one of the largest branded food exporters in Australia – as well as Canegrowers, a company that is known for sugarcane growing in the country and Mitchell Wines.
Matt Kealley, who is a senior manager at membership engagement and innovation at Canegrowers, spoke about how KPMG launches this tool and how blockchain technology helps in meeting the increasing demand on farmers to demonstrate their sustainability practices.
“A blockchain solution, such as KPMG Origins, could provide a platform which will enable end-users to capture the sustainability credentials of the product directly from the grower to customer,” he noted.
Another agribusiness executive at PwC recently argued that blockchain gives an illusion of traceability to supermarket chains and consumers and that the physical points of entry are not that foolproof.
However, as KPMG launches this new blockchain tool, we can see that all the Big Four companies including Deloitte, PwC, EY and KPMG have so far expressed strong interest in blockchain technology and implementing it within their systems. The firms’ private and public audits have reportedly accounted for more than 50% of the global audits in 2018. This is indicating a potential global blockchain adoption led by the big leaders in the industry.
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