Australian dairy farmers have just signed a deal with the Australian Government, which now introduces the use of the Blockchain technology into the daily supply chain of milk production.
This new movement has come into effect to balance the relationship between Australian dairy processors and the retail sector.
Australian farmers have been through very threatening times with the drought and the recent bushfires, which has seen the dairy industry struggle drastically. This has meant that farmers have seen declining margins within the agriculture supply chain.
This new deal between the agriculture industry and the Australian government will mean that dairy farmers will now be able to take back control of their industry. Over the last 30 years the agricultural enterprises locally in Australia have dropped from 15,000 to just 5,000 in 2020, and a 10 percent drop in the international market.
By incorporating Blockchain technology into their systems they will now be able to cultivate a real time payment platform linked to the Blockchain-powdered supply chain information system.
ADF President, Terry Richardson, has commented on the significance of this new deal;
“The transparency of shared information using Blockchain technology empowers our dairy farmers. Blockchain will reduce costs to compete more aggressively in local and global markets. It will also allow greater knowledge of what happens to a farmer’s milk once it leaves their farm, and will provide consumers with trusted information about where their milk comes from.”
This is a great time for Australians who like to buy locally from small Australian agricultural businesses.