The CBH Group, a West Perth, Australia-based grain exporter, is partnering with AgriDigital, a Sydney, Australia-based start-up to explore blockchain technology’s application in the agricultural industry. Emma Weston, chief executive officer of AgriDigital, said distributed ledger technologies and blockchain have already demonstrated opportunities in agriculture.
The companies will assess blockchain technology benefits in grain handling. A pilot will commence this month at Blue Lake Milling, an oats processor owned by CBH in Bordertown, South Australia. CBH has operations extending along the value chain from grain storage, handling, transport, marketing and processing. The pilot, one of the first of its kind in the world, will use AgriDigital’s smart contract library and agriculture blockchains.
The pilot’s purpose is to prove blockchain’s application providing full supply chain traceability, and deploying the settlement of commodities on a blockchain by tagging title transfer to payment in a single transaction. The pilot is one of the first CBH Group has undertaken to explore the possibilities of new technology across the business, said Andrew Crane, CBH Group CEO.