Leading Farm to Table Solution

Key Benefits

The combination between Unique Excellence and the Aglive Technology solution possesses important characteristics to enable continuous extension in transforming existing products and services to enable new innovative solutions, incl.: - Disintermediation: enables peer-to-peer interactions which can be trusted based on public & private key enabled signatures - Auditability: provides a full audit trail of data, creating a means of record keeping - Immutability: all blockchain transactions are timestamped and tamper-proof providing a single source of data integrity - Smart contracts: continuous near real-time tracking of data using smart contracts Food Provenance An increasingly important issue for Australia’s and International agricultural sector, that will benefit greatly from the adoption of the Farm to Table solution, is food provenance. A major trend in food at the global level is that consumers are interacting more with their food and are demanding to know more about where their food has come from, who produced it and how they produced it. Increasingly the question of what is produced is also important, for example, with the emergence of plant-based or lab-grown artificial meat. This increased consumer awareness is driving food consumption decisions. Fruit producers who are able to answer these questions and deliver what the consumer wants are often receiving a premium for their produce. Provenance attributes are communicated on food labels or other marketing means as these attributes are not easily recognised by inspecting the food itself. As premiums are possible for products that demonstrate attributes (i.e. quality, safety, sustainability or geographical location), this opens the door for food fraud. Food fraud is a rapidly emerging risk to global supply chains and has the potential to undermine Australia’s reputation as a provider of high-quality produce. A supply chain application, for example, could offer consumers a holistic understanding of their food, providing a complete food provenance story. Consider, for example, the recent safety security scare around Australia’s strawberry industry, the time and location of such crimes could be identified more readily given the end-to-end traceability offered by blockchain technology Smart Contracts One important feature of the solution is the aim for smart contract extension, which are set to play a major role across the agricultural environment. Simply put, smart contracts are digital codes that enable the automated execution of specified actions based on contractual conditions as validated by all the parties. Essentially, smart contracts are self-governing and operate on the solution to automate business processes. Areas where smart contracts have proven real value – which we are currently executing in the red meat industry - has been: - Insurance for certain weather events. Traditional methods result in delays while the claims are being processed, impeding the insurance holder. With a smart contract in place, the ‘code’ on the ledger would automatically trigger the benefit payment when the terms of the agreement are met. - Trade finance – with companies able to leverage the solution to improve efficiency in what is typically a “clunky” supply chain process. During our trials across the red meat industry, we’re already seeing how the efficiencies of our solution is able to deliver real financial benefits. Utilising a smart contract allows automatic settlement to occur when the terms of the trade are met, replacing the previous multi-step process and labour-intensive process involving Bills of Lading and Letters of Credit. The use of Unique Excellence in combination with Aglive has proven key in matching the physical and digital supply chain. Additionally, the use of the blockchain technology provides full transparency in the delivery and ownership of the order, removing manual processes and transaction costs, and returning these costs back into the supply chain.