AWI will use the Everledger transparency platform to seize and make seen safe details about wool provenance and its provide chain to create new sources of worth for wool growers, producers and retailers.
London and Sydney, 25 January 2021
The Australian wool trade and its companions could quickly be capable of hint the lifetime journey of genuine wool merchandise, because of a brand new partnership between the pioneer in provenance expertise and the not-for-profit physique for the Australian wool trade.
Everledger, the digital transparency firm, and the Australian Wool Innovation (AWI), which is the father or mother organisation for The Woolmark Firm, have right now introduced their strategic collaboration to seize asset data alongside the wool provide chain with a view to allow provenance and chain of custody verification utilizing blockchain expertise.
In keeping with AWI’s push to advertise traceability in assist of the Australian wool trade, Everledger will construct and host an Digital Chain of Custody Device (ECCT) on its platform. The purpose is to trace and validate the change of possession of chosen wools as they transfer up the availability chain from farm, to abroad processing and thru to completed merchandise.
Merino sheep are celebrated globally for producing the world’s best, softest and most lovely wool. Australia produces round 90 % of the world’s fantastic attire wool and contributes considerably to the Australian economic system.
Defending an enviable popularity
On this preliminary stage, ECCT will act as a proof of idea. It’s going to hint the journey of wool from farm to the tip client, by figuring out and capturing the required documentation at every stage of the worth chain.The ECCT will show sustainability and compliance greatest practices and supply extra confidence on the authenticity and provenance of the wool product. It means a retailer or finish client might confirm the place and when in Australia the unique wool was sourced.
Totally different individuals at every stage of the availability chain will be capable of join by means of standardised knowledge, in step with greatest practices for the attire trade. Recorded proof can be utilized to show compliance, whereas individuals can even discover extra applied sciences to reinforce materials and chain of custody integrity.
John Roberts, Chief Operations Officer at AWI, defined that working the proof of idea initiative will inform the organisation in regards to the applicability of blockchain expertise to showcase and gauge trade urge for food. “A proof of idea will permit a extra prudent use of growers funds, as from the undertaking findings we are going to then decide whether or not we are going to put money into a full platform or look to take part in another.”
“Our organisation and stakeholders have been monitoring the speedy escalation in emphasis being positioned on provenance, company social accountability, and the perennial considerations relating to provide chain effectivity and biosecurity,” he stated. “Traceability and transparency are essential for safeguarding the worldwide popularity of Australian wool. This partnership with Everledger will assist us to ease the stream of knowledge up and down the availability chain to all events, and so talk wool’s advantages to a wider viewers. Finally, that is excellent news for our farmers and associated small companies that depend on these outstanding sheep to make a residing.”
Peter Hughes, Head of Australia & New Zealand at Everledger, stated: “Australian merino wool is called nature’s miracle fibre, resulting from its softness, breathability and ecological footprint – particularly when in comparison with artificial supplies. It’s a gold commonplace Australian export, appreciated across the globe. We’re delighted to associate with such an essential establishment within the nation and assist 22,000 woolgrowers with state-of-the-art expertise.”
Everledger CEO Leanne Kemp commented: “AWI’s values of clear provenance and truthful social and environmental affect in trend are beliefs we assist wholeheartedly at Everledger. Actually, that is the core of what we do. It brings me unimaginable pleasure to have the ability to bridge these two worlds that on the floor appear to be so distant: wool manufacturing and expertise, interwoven by trend.”
Ms Kemp added: “Blockchain mixed with different applied sciences can generate vital financial worth to a variety of sectors in Australia, contributing an estimated world annual enterprise worth of over $175 billion by 2025. AWI are taking a lead for different conventional industries in Australia to comply with. We’re delighted to design and handle an answer that can assist AWI to ship a extra clear worth chain. By sharing provenance data securely – from farm to client – all individuals can get pleasure from the advantages of traceability.”
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ABOUT AUSTRALIAN WOOL INNOVATION:
Australian Wool Innovation (AWI) is a not-for-profit organisation owned by all Australian woolgrowers. AWI invests in analysis, growth, schooling and advertising and marketing alongside the worldwide provide chain for Australian wool.
AWI makes strategically focused investments to reinforce the profitability, worldwide competitiveness and sustainability of the Australian wool trade. Funded by Australian woolgrowers, the cooperative is concentrated on delivering outcomes for wool levy payers.
Working alongside the availability chain of Australian wool, AWI nurtures expertise, innovates by means of analysis, and actively invests in pushing the boundaries of what wool means to the world.
