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KPMG Launches DLT Supply Chain

KPMG, Big Four audit firm, has finally launched a blockchain-based track and trace platform in China, Japan, and Australia. Called KPMG Origins, they designed the tool to improve transparency and traceability of processes in different industries like agriculture, manufacturing, and financial services. And the company announced this on November 28.

In a press release, the launch happened after successful pilot implementations with clients in the participating countries.

In addition to that, KPMG Origin aims to develop supply chain processes. And this includes several technologies such as blockchain and the Internet of Things. The platform allows trading partners to communicate product data across their supply chains to end-users. At the same time, it will reduce operational complexities.

KPMG Origin’s trial participants include SunRice – one of Australia’s largest branded food exporters, Canegrowers – a top body for Australian sugarcane growers, and vineyard Mitchell Wines.

A senior manager at membership engagement and innovation at Canegrowers, Matt Keally, indicated that blockchain technology could support the growing demand for farmers. And this is to demonstrate their sustainability practices.

He stated that a blockchain solution, like KPMG Origins, could produce a platform. And this would “enable end-users to capture the sustainability credentials of the product directly from the grower to customer.”

On the other hand, an agribusiness exec at PwC recently contended that blockchain provides an illusion of traceability to supermarket chains and consumers. And the exec also indicated that physical points of entry are not automatically foolproof.

Facebook Should Look to Support Third-Party Stablecoins

Elsewhere, blockchain researchers at online brokerage eToro have insisted that Facebook should support third-party stablecoins instead of Libra.

In a report from Finextra on November 28, eToro’s blockchain research unit eToroX Labs believes that the crypto project of Facebook gives a trailblazing opportunity to disrupt financial services worldwide. But the social media giant must change its strategy to ensure its success.

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