KPMG launches KMPG Origin, a blockchain traceability platform, to improve transparency in multiple industries including financial services

According to Cointelegraph reported on November 29, KPMG, one of the world's four largest accounting firms, officially launched a blockchain-based traceability platform-KMPG Origin-in Australia, China and Japan.

KPMG London (Image source: flickr )

The company announced on November 28 that KMPG Origin aims to improve transparency and traceability in multiple industries, including agriculture, manufacturing and financial services. KPMG officially launched KMPG Origin after successfully completing pilot projects in Australia, China and Japan.

Participants in the KMPG Origin pilot project include SunRice and Canegrowers

KMPG Origin intends to use emerging technologies such as blockchain and the Internet of Things to improve its supply chain processes. KPMG said the platform enables trading partners to transfer product data to end users through the supply chain, while reducing operational complexity.

Participants in the KMPG Origin pilot project include Australia's largest branded food exporter SunRice, Australian sugarcane growers association Canegrowers and wine company Mitchell Wines.

Matt Kealley, Canegrowers' innovation senior manager, points out that blockchain technology has the potential to allow users to better understand food:

Blockchain solutions like KMPG Origin allow end users to obtain sustainable product certifications directly from growers.

Big four accounting firms show strong interest in blockchain

Cointelegraph previously reported that the world's four largest accounting firms-Deloitte, PwC, Ernst & Young and KPMG have all shown strong interest in using blockchain technology. In 2018, the audit work of the Big Four participated in more than 50% of the global related work. The positive attitude of the Big Four in the cryptocurrency and blockchain fields can reflect the global attitude towards the adoption of blockchain to a certain extent.

In October this year, EY launched a blockchain public fund platform. Prior to this, PricewaterhouseCoopers and the identity management protocol uPort developed a blockchain-based identity management system.