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KPMG has launched a blockchain platform for tracking supply chains in Australia, China and Japan

A logo sits on display outside the offices of KPMG LLP in the Canary Wharf business and shopping district in London, U.K., on Friday, July 12, 2013. Recent data suggest Britain's economic recovery is gaining momentum after a return to growth in the first quarter. Photographer: Simon Dawson/Bloomberg

KPMG has launched a blockchain platform for tracking supply chains in Australia, China and Japan

Audit firm KPMG has officially launched a blockchain-based platform for tracking shipments and controlling the origin of products in Australia, China and Japan.

According to a press release, the KPMG Origins tool is designed to increase the transparency and traceability of processes in industries such as agriculture, manufacturing, and financial services. The official launch of KPMG Origins in Australia, China and Japan took place after successful pilot tests with customers from these countries.

By implementing a number of new technologies, such as blockchain and the Internet of things, KPMG intends to improve supply chain processes. According to the company, the platform allows sales partners to transmit product data across all supply chains to end users, while reducing the level of complexity of operations.

KPMG Origins ‘ clients include one of Australia’s largest food exporters, Sunrise, as well as Canegrowers and Mitchell Wines. Matt Kealley, senior Manager of innovation development at Canegrowers, noted that blockchain can help meet the growing demand of farmers to demonstrate the quality of their products:

“A blockchain solution like KPMG Origins can provide a platform that allows end users to get data about all stages of product production.”

In February, it became known that KPMG and the startup Guardtime are collaborating to develop products and services based on the blockchain. In June, the U.S. food and drug administration teamed up with IBM, Walmart, KPMG, and Merck to create a proof-of-concept application of blockchain for sharing and tracking data on prescription drug distribution.