Evaluation of Blockchain Technology to deliver industry integrity programs

Summary

Blockchain is a distributed database (or ledger) shared across a public or private network of computer servers. Each computer "node" in the network holds a copy of the database simultaneously. Unlike a conventional database or website, the result ofhaving multiple copies of data in a Blockchain network is there is no single failure point. Every piece of information is encrypted, ensuring only people with the correct permission level can view each record.

This technologyenables trust in the transfer of value or assets between two parties without the need for a trusted middleman (like a bank).

Blockchain has the potential to reinvent and remove some key business restrictions throughout the digital world as data moves from one participant to another, thus enabling greater trust and security to how each party interacts and transacts across the extended supply chain.

Evaluation of Blockchain Technology to deliver industry integrity programs

Integrity System Company (ISC) commissioned an investigation into howand where a blockchain distributed ledger solution could fit into the Mirror Database aggregation of the main National Livestock Identification System (NLIS) database, and the sharing of data with states and territories within Australia.

The objective was to identify an application of Blockchain technology that could improve on the current identified concerns in the present solution of data aggregation and synchronisation between the Mirror database and State database.Thisprojectexplored the potential solutions toconcernsraised anddiscussed the advantages and disadvantages of each one,finally culminating into a recommended solution and a proposed implementation approach.

When considering the Mirror database and State database and the role it plays in governance and compliance, the benefits of creating a more trusted data source for the Red meat industry, cannot be over-stated.

Evaluation of Blockchain Technology to support provenance

This project assessed how Blockchain technologies may be applied to prove the authenticity and brand qualities of Australian meat products.The research involved investigating theprocesses, systems and information flows in the beef supply chain from Australia through to export markets in Asia.

This projectedlooked athow Blockchain technology could be utilised by different participants in the supply chain to satisfy the provenance lifecycle and what if any, advantages it offers over other more traditional databases. 

The conclusions in the research and the consequent opportunities identified include:

• Blockchain technologies could increase the barrier to counterfeiting Australian Beef.
• Brand promises could be verified digitally by integrating to the Blockchain data elements from existing logistics and quality systems.
• Existing systems could be integrated through text information derived from the unique identifiers in the supply chain order process.
• Unique identifiers can be extracted from the existing supply chain process to create verifiable blocks.