GREATER
TRANSPARENCY
BeefLedger is driven by a belief that consumers and all supply chain participants can benefit from greater transparency and streamlined transactions in the beef supply chain.
Food safety and fraud concerns are massive issues, especially in places like China. Australia is a premium producer of safe, high quality food products – including in beef – which is increasingly sought out by Chinese consumers. BeefLedger is developing and commercialising an integrated blockchain-enabled beef provenance platform and smart contracting payments regime that streamlines payments and strengthens consumer confidence in product credentialing.
WHAT IS BEEFLEDGER?
BeefLedger is an integrated provenance, blockchain security and payments platform. It is a general purpose technology platform project, utilising blockchain technologies, that seeks to harness a diverse range of product provenance information as a basis of improved payments and confidence amongst supply chain participants.
It will provide a platform by which consumers can validate the credentials of the product they are purchasing, and drive efficiencies in the supply chain by reducing information asymmetries between transacting parties. BeefLedger combines the blockchain’s attribute of being a robust validator of historic states (as a record of past events) and the power of crypto-economics to drive incentivised systems shaping behavioural optimisation in supply chains.
The beef supply chain in Australia is one of the most complex food production and distribution systems around involving live animals, dynamic environments and climatic conditions, strict regulatory regimes, transportation and processes of disassembly and reassembly.
Numerous families, businesses and communities depend on the viability and sustainability of the beef supply chain. There are over 45,000 beef cattle producers across the country, with a national herd of around 27 million head of cattle. The industry exports around 70% of annual production and is the third largest exporter of beef in the world.
As demand for beef in growing markets like China grows, the risks of meat fraud and safety increases. A robust credentialing platform is needed to ensure the reputation and value of the Australian beef industry is protected. BeefLedger can monetise data value, and ensure this value is captured by those responsible for its production. This includes provenance data right through to consumer data. Whereas Australians consume on average 26kg per person of beef per year, Chinese consumption is at considerably lower levels (6kg). However, Chinese beef consumption is growing rapidly.
Our mission is driven out of the experiences of our team, which has extensive (decades’ long) involvement in beef production and distribution, land management, product packaging innovation, financial services and cross-border trade – particularly with China. The team straddles extensive industry experience and expertise, combined with a strong research and development core backed by our academic institutional partnerships and allied industry partners.
BeefLedger is a founding industry partner of the Food Agility Cooperative Research Centre (FA CRC – https://www.foodagility.com). The FA CRC is an Australian Commonwealth Government funded initiative. It operates an AU$150m research and innovation hub to harness the power of digital technologies to help the Australian agrifood industry to be more internationally competitive and sustainable.
BeefLedger Limited is a public unlisted company, registered in Australia. As a public (unlisted) company, we are required to meet strict audit and governance requirements. Our independent external auditor is WPIAS.
BEEF TOKENS
Participating in the Platform and Network.
Anyone in the community can participate in the network by purchasing BEEF Tokens. BEEF Tokens are pre-mined utility tokens, which act as a means of payment for data value across the supply chain as well as for the supply of cattle and meat to consumers.
A foundational release of BEEF Tokens were distributed by private pre-sales. The pre-sale program concluded 30 June 2018, with 30% of Tokens committed. Tokens have been secured by Chinese consumers (retail end-users as well as wholesale import partners), domestic supply chain participants and project partners. Some of these Tokens will enable the transacting of our first credentialed beef shipments.
ROADMAP HIGHLIGHTS
