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Homepage / News May 31, 2018 69 views

PwC Australia, Port of Brisbane Unveil Blockchain Supply Chain Pilot

PwC Australia, Port of Brisbane Unveil Blockchain Supply Chain Pilot

The Australian arm of “Big 4” auditing firm PwC is operating a new resolution aimed to increase efficiencies in the country’s international trade systems.

Announced Tuesday, PwC Australia is collaborating with the&nbspAustralian Chamber of Commerce and Sector (ACCI) and the Port of Brisbane for the improvement of a new platform that utilizes blockchain technologies to link provide chain info, in theory eliminating difficulties with conventional approaches by, a release states, removing complexity.

Dubbed the Trade Neighborhood Method, the answer addresses numerous trade sector “discomfort points” and incorporates recommendations from the “Inquiry into National Freight and Supply Chain Priorities” report released by the Australian government. The document&nbsplists a quantity of brief- to extended-term priorities intended to help improvement of a provide chain strategy for the country as portion of its 2016 Infrastructure Plan.

So far at the proof-of-idea stage, the Trade Community Technique digital application is becoming trialled in Brisbane with the ultimate aim of building an “innovative end-to-end provide chain,” PwC companion Ben Lannan said.

He continued:

“[The platform] will&nbspdigitise the flow of trading details, enhance connectivity for supply chain participants, decrease friction for enterprise and minimize provide chain costs, delivering unprecedented productivity gains for Australia’s international firms.”

According to the release, there has been development in the trade volume across Australia and that is expected to continue.&nbspCurrently, approximately 9 million container movements take location at five significant ports annually, a number anticipated to rise to 15 million by 2025.

Roy Cummins, CEO of Port of Brisbane, commented, “It is the correct time for sector to initiate a reform and modernisation agenda which will shift the dial for Australia’s international organization.”

Container ship image through Shutterstock

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Published at Thu, 31 Might 2018 13:41:10 +0000