Australia: PwC, Chamber of Commerce, Port of Brisbane Partner for Blockchain Pilot
May 29 2018 - 11:07AM
ADVFN Crypto NewsWire
PwC Australia, the Port of Brisbane, and the Australian Chamber of Commerce and Industry have
partnered to release a blockchain-based supply chain management proof of
concept (PoC), according to PwC’s press release published today,
May 29.
The Trade Community System digital application will
connect commercial operators across a supply chain for
international trades. The press release notes that 9 mln containers
are moved from Australia’s 5 major ports each year, with the number
set to grow to 15 mln by 2025.
According to Bryan Clark, the Director of Trade and
International Affairs, Australian Chamber, “the current
inefficiency across Australian supply chains has added to the cost
of doing business, creating up to $450 in excess costs per
container:”
“This doesn’t just represent in excess of $1bn in
value lost, but goes to the heart of Australian commodity trade
viability when it gets priced out of the competitive global
market.”
Last week, government official reported that Australia’s Prime
Minister had been behind the country’s $530,000 budget this year to
spend on blockchain research.
Last fall, IBM signed an agreement with a port
operator in Singapore and regional shipping company to also use
blockchain for supply chain management. More recently, a
Scandinavian startup announced plans to create a
blockchain-based platform to register shipping containers.
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