Australian Government Funds Sustainable Sugar Blockchain With $1.7M

The Sustainable Sugar Project whose purpose is to monitor the origin of sugar imported into Australia is receiving funding in the amount of $1.7 million USD by the Australian government.
The Sustainable Sugar Project has been cultivated by the Queensland Cane Growers Organization using blockchain technology. The project aims to track and monitor sugar that enters and travels within Australia. This endeavor is part of a larger aim by Smart Cane Best Management Practice that hopes to bring clarity within the sugar industry as well as enhance sustainability.
The project is hoping to garner consumer confidence using blockchain technology in the food sector. The nature of blockchain technology immutable nature that records all transactions, customers can feel comfortable in their purchases knowing that the food has a clear chain of handling behind it.
The Sustainable Sugar Project is an amalgam of industry experts coming from the farming and blockchain sectors. The project has three key factors that it wants to promote: productivity, sustainability, and profitability.
David Littleproud, the agriculture minister, stated that blockchain will help with the growing demand for sustainable growing practices, by giving consumers confidence that the sugar purchased has been cultivated ethically. He goes on to say that buyers will be willing to spend more on sugar if their sustainability requirements are proven to be true.
This fund is not the only blockchain technology being utilized in Australia right now in the food industry. On Monday (July 30th) the Commonwealth Bank of Australia announced it had successfully shipped 17 tons of almonds from Sunraysia to Hamburg, Germany using a recently created blockchain platform. This lends credence to the usage of blockchain in helping with international supply chains at a much cheaper rate than standard practices.