Shining as one of the Big Four accounting organizations, KPMG, the leading professional services providing firm, has announced the news about the launch of KPMG Origins in Australia, China, and Japan. KPMG Origins is a ‘track and trace’ platform that is designed on blockchain pedagogies to cater to the requirements of varied industries, including agriculture, resources, manufacturing, and finance domains.
While talking about KPMG Origin, Ken Reid, ASPAC Head of Advisory and Partner, KPMG Australia said that the platform is likely to strengthen and support the supply chain systems in an array of industrial domains. He explained that the supply chains in the present era are faster, interconnected in a better way, and are indulged in the sharing of greater amounts of data in comparison to what was being shared in the earlier phase of the century.
The leader quoted that “From agriculture to financial services, the complexity of supply chain ecosystems creates operational risks, reconciliation challenges as well as safety concerns. KPMG Origins’ goal is to solve these problems by providing independent third-party verification and certification of data and processes.”
About KPMG Origins
KPMG designed its highly anticipated project KPMG Origins to offer an array of facilities including:
- Trigger global trade
- Offering a competitive advantage to Australian firms with an intention to allow them to depict the provenance of their projects in the international market space.
The kickstart of the platform which was followed by its trial implementations in leading economies of Australia, China, and Japan has paved the way for the flourishing of a suite of new-age technologies like:
- Internet of Things (IoT) sensors
- analytics tools
The chief mechanism working behind the KPMG Origins platform is to ensure the highest standards of transparency and traceability amongst the trading partners across different industries as well as their supply chain ecosystems. The reputed platform offers the trading partners to:
- Convey exclusive product information across supply chains
- Maintain proper involvement of buyers and sellers
- Bring down the complexities associated with operational work
“The platform is based upon in-depth work across highly specialised areas, as well as collaboration across multiple jurisdictions to deliver a multi-lingual, standards and taxonomy driven platform that accelerates the development of distributed ecosystems,” said Laszlo Peter, KPMG Head of Blockchain Services for the Asia Pacific.
In the present time, a number of entities have shown trust in KPMG Origins and have trialed the platform’s operational capacities. Some known industries trialing the project include:
- SunRice- Australia’s largest food exporting team
- CANEGROWERS- The apex body for Queensland’s sugarcane growers
- Mitchell Wines- A renowned Riesling producer
With KPMG Origin’s roll-out in the Asia Pacific region, it is clear that the supply chain arena is turning out to be the hot-shot domain for the biggies of the industries. Let’s see what the future holds for this potentially strong industry, which promises blockchain development in a big way.