Australian Government Awards Grant to Blockchain Project for Sustainable Sugar

The Australian government has granted A$2.25 million to the Sustainable Sugar Project, Foodnavigator-Asia reports July 30.

The Sustainable Sugar Project, led by the Queensland Cane Growers Organization, will use blockchain technology to track the provenance of sugar supplies to Australia.

The initiative known as the Smart Cane Best Management Practice is part of a sugar industry push for better sustainability and traceability.

Blockchain technology will purportedly allow buyers to clearly see where sugarcane comes from and prove the provenance and sustainability of the farm.

"Blockchain's main attribute is that it's a secure database in which all transactions are recorded and visible the quality sugar produced from the sustainably-grown cane can be traced back through the chain, giving consumers confidence in what they are buying."

The Ministry of Agriculture and Water Resources stated that large buyers of sugar could pay more in the future for sustainable sugar, as customers increasingly demand sustainably-sourced products.

"This technology would provide assurances around the sustainability of our sugar and ensure cane farmers using sustainable practices can attract a premium for their product."

Blockchain technology has proven to be a boon for logistics and supply chain applications, and is widely regarded as a cheaper and more efficient way to track complex supply chains globally.

Today, the Commonwealth Bank of Australia announced that it completed a successful trade of 17 tons of almonds to Europe using blockchain technology.

Oracle Blockchain Cloud Service uses Hyperledger Fabric as its basis and launched following a series of trials with banking, business, and government clients.