Australia: PwC, Chamber Of Commerce, Port Of Brisbane Partner For Blockchain Pilot

PwC is one of Australia’s leading proficient services firms, bringing the power of their worldwide network of firms to help Australian organizations, not-for-profit organizations, and governments and also evaluate their execution and enhance the way they work. Having developed from a one-man Melbourne accountancy practice in 1874 to the overall merger of Price Waterhouse and Coopers and Lybrand in 1998, PwC Australia currently has employed more than 7000 people in the organization.

According to PcW’s release that was published today, the Port of Brisbane, and the Australian Chamber of Commerce and Industry have joined forces to launch a blockchain-based supply chain management proof of concept (PoC).

The Trade Community System digital application will associate business administrators over a supply chain for worldwide trades. The public statement takes note that 9 mln containers are moved from Australia’s 5 major ports every year, with the number set to develop to 15 mln by 2025.

As indicated by Bryan Clark, the Director of Trade and International Affairs, Australian Chamber, “the current inefficiency across Australian supply chains has added to the cost of doing business, creating up to $450 in excess costs per container:”

“This doesn’t just represent in excess of $1bn in value lost, but goes to the heart of Australian commodity trade viability when it gets priced out of the competitive global market.”

A week ago, a government official claimed that Australia’s Prime Minister had been behind the nation’s $530,000 budget this year to spend on blockchain research.

The previous fall, IBM consented to an arrangement with a port operator in Singapore and regional Transportation Company to also utilize blockchain for supply chain management. Recently, a Scandinavian startup declared plans to make a blockchain-based platform to register shipping containers.