Australian beef has a global reputation for quality, safety, animal welfare and environmental management. But a surge in demand in international markets like China, has driven a corresponding increase in food fraud.
Substituting products for something other than beef, substituting different cuts and labelling meat from other countries as Australian is becoming more common.
Globally, food fraud is estimated to cost $40billion a year. ‘Fake steak’ not only costs Australian beef producers millions every year, it puts the health and safety of consumers at risk.
This project is using blockchain to create an unbreakable, immutable record, tracking beef from paddock to plate, credentialing the provenance of Australian beef. This information will drive aps for consumers and suppliers, giving them confidence that their meat is 100% Aussie.
The team is also building a digital system using ‘smart contracts’ to replace letters of credit, which can be forged, as well as new packaging with a range of anti-counterfeiting measures embedded to prevent the substitution of fake products.
In addition to all of this, the team is investigating how cryptocurrencies could be used to incentivise compliance throughout the supply chain.
This project is being led by QUT and Queensland company BeefLedger Ltd.