The Australian division of PricewaterhouseCoopers, an international network of companies offering professional services in consulting and auditing, in collaboration with the Australian chamber of Commerce and industry (ACCI) and the port of Brisbane has launched
«The commercial communities», based on the technology of the distributed registry.
The proof-of-concept «System of community» aimed at improving the operations of companies involved in the supply chain. Has been repeatedly proven that the technology of the blockchain has the potential to revolutionize key areas of the global economy and system of supply chains is one of them.
System based on blockchain technology, developed by PwC and the Australian authorities, promotes increase of efficiency, reduction of costs and the amount of controversial situations in the supply chain. The General Director of the port of Brisbane Roy Cummins (Roy Cummins) said:
«To improve the efficiency of its work for industry leaders need to create mechanisms that will facilitate integration and promote interoperability of commercial operators throughout the supply chain and logistics.»
Blockchain revolution in logistics
The Australian economy is very prosperous. According to experts, each year more than nine million containers pass through five national ports in the country, and it is expected that their number will grow.
However, the Australian logistics industry is facing many challenges because of the huge number of documents, problems with tracking, restrictions, intermediaries and significant maintenance costs.
In this regard, 18 may 2018, the Council of Australian governments on transport and infrastructure has formulated a plan
for the development of a 20-year national strategy in the field of transportation and supply that would help solve the problems associated with the system and increase its efficiency.
«Commercial communities», blockchain will help to answer many of the issues contained in the report «Research of national priorities in the field of transportation and supply».
According to the Director of the chamber of trade and international Affairs Bryan Clark (Bryan Clark), the country has recently seen an exponential growth in the volume of trade, and this progress threatens to undermine the existing system, because they can no longer efficiently handle the operations, the cost of which has increased significantly. He notes:
«Currently, inefficient processes in the Australian supply chain has increased the cost of doing business, causing extra costs amount to $450 to the tank… This doesn’t just mean the loss of $1 billion, but also affects the profitability of a commodity, when it comes to competitiveness in the global market.»
In the framework of similar developments of the Korea customs service signed an agreement with the company Malltail, with the aim of creating a customs system based on the blockchain for the Korean sector of electronic Commerce.
The technology of the blockchain is distributed in different areas with impressive speed. If all goes according to plan, the integration of the blockchain in the Australian system of supply chains will greatly contribute to the development of the economy.
Blockchain is very popular when it comes to optimizing supply chains – in the last six months have repeatedly heard reports that the company is thinking about the introduction of technology. Recently it became known that the German ERP vendor SAP develops
blockchain for supply chains in agriculture, and a month ago the Chinese Corporation Alibaba announced that it is starting the test blockchain-based platform for food supplies.
Even giants such as Samsung and FedEx do not miss the chance to increase the effectiveness of their work with the blockchain. In April, Samsung announced
on the implementation of the blockchain to track the supply chain and FedEx in February told
plans for the integration of technology for dispute resolution and tracking. Governments are also not far behind in early may, the U.S. Congress discussed
the use of the blockchain in global supply chains.