Sydney-based startup Ultimo Digital Technologies is deploying blockchain to track everything from farm to fork, ABC News reported.
The startup was founded by John Baird, former CSIRO experimental scientist and the chairman of the cyber security advisory council advising the New South Wales government. CSIRO is Commonwealth Scientific and Industrial Research Organisation.
Ultimo Digital Technologies’ blockchain begins with a unique microchip embedded in a product's label or packaging.
According to the report, the tamper-proof chip takes information directly from the goods via the internet to a secure location that can't be compromised.
The company’s coders say that their prototypes use a formula that sends a message back to manufacturers when the product is opened. It also tracks changes in temperature, location and radiation levels.
"Blockchain is completely flexible; it can store any sort of IoT data," said Baird. IoT is Internet of Things.
Baird says the tech can be used for spotting knock-offs.
According to him, China is grappling with a gush of counterfeit goods right from fake baby powder to faulty children's vaccines.
"We've talked to China about using it as a way of shipping Chinese goods out of China, ensuring that what goes out of the country has the quality the manufacturer intended," he said.
Apart from helping consumers, the technology could also improve export conditions for livestock.
The company is working with the meat and livestock industry to track the meat we eat right from being butchered to plate.
According to the report, the Sydney fish markets are exploring the use of blockchain to ensure the fish bought is the same that's delivered. The company is also testing a device that can test the age of fish, its temperature and even predict its freshness.
In the future, the company plans to trace animal welfare conditions right from the paddock.