Chinese e-commerce giant Alibaba Group Holding, consultancy PwC and New Zealand Dairy giant Fonterra have teamed up to develop a system that will track the global supply chain of food products, the Xinhua News Agency said Thursday, citing PwC China.
According to a memorandum of understanding, the involved companies will work together to develop a blockchain solution that will track the supply chain.
Alibaba Group said that the partnership aims to establish a system to lead food quality and safety standards and improve practices and integrity in the sector.
During the pilot period, the system will be used to track Chinese imports from Australia and New Zealand, with the aim of rolling it out across all of Alibaba Group's online marketplaces.
Australia Post, Australian health company Blackmores and New Zealand Post are also parties to the memorandum.