One of the largest and most comprehensive trials of blockchain technology for global supply chains has just successfully ended with a new Australian developed blockchain security architecture, TBSx3 potentially raising global supply chain security to a military grade as a standard feature.
The TBSx3 system uses military grade 44 alphanumeric character security cryptography, compared to the six digit public cryptography which up to now has been commonly used.
The new TBSx3 benchmark was successfully used on an 8,100 kilometre global road and sea supply chain stretching from the wine growing Coonawarra region of rural South Australia to the port of Qingdao in north-eastern China, which ended this week.
Partners included: DP World Australia (one of the five largest port operators in the world), DB Schenker (No.l in European land transport and No.3 in global air and sea freight), Hamburg Sud (one of the world’s 10 largest container shipping lines) and Australian wine producer IUS, which exports seven product lines into the rapidly growing Chinese wine market.
KPMG advised TBSx3 on the trial and verified the custodial handovers for the integrity of the product on the 8,100 kilometre land and sea journey. Furthermore, KPMG simulated the customer at the end of the trial by receiving, validating the product and checking if the system could potentially detect duplicates.
