BlockGrain is the future of supply chain tracking
16/2/2018
BlockGrain is a supply chain tracking start-up, the first major Australian project for blockchain to take advantage of the $90 million global NEM investment fund. Using BlockGrain, farmers, logistic companies and brokers can track the harvesting of their grain and also monitor the grain through the entire supply chain directly to the end customer. This ability gives farmers the ability to not only track but also to create and manage commodity contracts making their whole process more efficient.
BlockGrain is a supply chain tracking start-up from Australia that has raised $1million in cryptocurrency thanks to their NEM blockchain investment fund. They are the first major Australian project for blockchain to take advantage of the $90 million global NEM investment fund.With this startup, farmers, logistic companies and brokers can track the harvesting of their grain and also monitor the grain through the entire supply chain directly to the end customer. This ability gives farmers the ability to not only track but also to create and manage commodity contracts making their whole process more efficient.
Caile Ditterich, the chief executive and co-founder of BlockGrain, said the funds would be used to integrate NEM’s new blockchain technology with their current platform and that this will be complete by the last quarter in the year.
The mission of BlockGrain is to solve the problems that the agriculture industry and farmers face in real life. The supply chain is quite complicated, and there was not a lot of meaningful data and information about productivity and efficiency for farmers, logistic companies and farmers all.
Ditterich notes that the level at which they are at with BlockChain right now is investigating its potential. They are now looking at how the technology from NEM can be used to provide more automation and more excellent visibility within the supply chain of the agricultural system.
With a plug and play approach NEM offers comfortable, secure and customizable ways for storing digital assets and making transactions.
Director of NEM.io Foundation for New Zealand and Australia Jason Lee said BlockGrain is an example of the potential that blockchain has in real use cases and that potential is exciting.
He notes how the past couple months they have been looking at some Australian companies developed to improve the way companies are doing business or those that are looking towards making a societal difference.
BlockGrain intends to make this a reality and is on a clear path to do so. They have partnered up with NEM who has proven to be a natural fit for the mission. They understand how blockchain works and how they can benefit from and are confident it can be integrated into their current platform and business.
Council member for the NEM.io Foundation Nelson Valero said that BlockGrain could help NEM create a credible technology platform.
BlockGrain is currently in a position to go internationally very quickly thanks to the many adopters that are already using the platform and those testing the beta system. The platform will be available on a broader scale by the second quarter of this year. So far its clients include Rise Agri, which is one of the largest independent grain brokerage groups in Australia managing a portfolio of 1000 farmers.
The NEM blockchain investment fund decides its benefactors through community voting. Companies can post their concepts on NEM community forums and then users can vote on the ideas there. The companies that are successful are then presented to the NEM.io Foundation, and they do their due diligence before issuing funds.
