Everledger partners with Australian Wool Innovation on blockchain tracking technology

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Everledger from the UK, the parent organization of The Woolmark Company, partnered with Australian Wool Innovation (AWI) on a supply chain traceability proof-of-concept, with the aim of enabling the sharing of information on provenance and wool supply chains.

Together with the Australian wool industry and its partners, the two companies have begun charting the journey of a lifetime of wool products, hoping to create new sources of value for wool growers, producers and retailers. The process uses blockchain technology to capture information along the supply chain and provide verifiable provenance.

The process supports biosecurity efforts, according to AWI, and can meet compliance and reporting requirements, delivering value to both buyers and growers.

“What is clear from this proof of concept is that there is a demand across the value chain and from stakeholders for the wool industry to ensure traceability and we look forward to advancing on the gains made here. “said John Roberts, as CEO of AWI, in a statement.

“Traceability was considered an asset to have …”

The pilot project worked with seven supply chains, from wool producers to exporters, to understand the nature of business processes, the types of complaints and the data available. The established prototype appears to allow participants to navigate this supply chain opacity, offering blockchain-backed information that remains reliable.

“We love working with visionary partners,” said Everledger CEO Leanne Kemp. “Traceability was once considered a pleasant thing, now in multiple supply chains and across many types of materials, it is essential. Other industries, such as critical minerals and batteries, are now quickly responding to regulatory requirements for transparency and accountability, such as those to come into effect across the European Union in 2023, or to resolve issues of modern slavery or emissions. of greenhouse gases “.

He continued: “AWI is taking the lead for other traditional industries in Australia to follow, and in so doing demonstrates both responsible leadership and a keen vision to see how blockchain combined with other technologies can generate significant economic value and sustainability.”

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