Today, on March 2 Chinese online retail behemoth JD.com announced its expansion into Australia's exporters market with a strategic partnership. A leading Australian meat products exporter InterAgri is now collaborating with JD to bring premium beef to Chinese consumers - the demand and interest for such high-quality food has been increasing lately. What is particularly curious about the initiative is that both companies are eager to implement a blockchain-enabled traceability system.
Such measure will surely attract positive publicity and overall consumer satisfaction because by design this tracking system will be transparent on the matters of the origin of the beef and the handling conditions at every step of the supply chain: consumers will know where and how the animal was raised and how the meat was processed and transported.
We’re excited to partner with InterAgri to deliver this level of transparency to our 266 million customer base. We’re increasingly implementing blockchain-enabled traceability solutions to give consumers confidence that they are buying safe, reliable products for their families. Consumers in China don’t just want quality imported products, they want to know that they can trust how and where their food is sourced, and blockchain helps us deliver this peace of mind.
This blockchain related project is not the first in the JD's portfolio: earlier a domestic team-up with Chinese meat producer Kerchin also incorporated the novel tracking approach. Also, JD participates in Food Safety Alliance along with Walmart and IBM. The blockchain system is set be online late Spring 2018.
The demand for premium Australian beef in China has exploded over the last few years, but we are still just scratching the surface of the addressable market. By partnering with JD.com, and tapping into its reputation for quality and ability to bring fresh food to the doorsteps of hundreds of millions of potential consumers, we’re unlocking a huge opportunity for Australian beef exporters to fulfil future generations of consumers in China.