Reportedly, major Palm Oil exporter, Malaysia sets to adopt blockchain technology with an app to foster transparency, and enhance traceability in the supply of Palm Oil product. Malaysia’s blockchain app will be developed by the Malaysian Palm oil council (MPOC) alongside BloomBloc, a tech firm, to gain consumer’s trust in the palm oil supply chain space.
Improve crop management and harvest
MPOC CEO, Dr. Kalyana Sundram, said that they chose to work with BloomBloc to develop Malaysia’s blockchain app because the tech firm is experienced in creating a traceable, transparent supply chain in line with sustainable agriculture.
Sundram said further that the characteristic suits their goal very much to improve crop management and harvest and also track working conditions and plantation management.
It is, however, understandable that Malaysia’s blockchain app could help as their large export volume of palm oil has led to several issues, including unstable prices of the commodity alongside regulatory opposition from the European Union (EU). Because of these, it is understandable why Malaysia is set to adopt blockchain to gain the public’s trust and show that it is a sustainable venture.
Malaysia’s blockchain app features
As mentioned above that MPOC alongside BloomBloc will work together to develop Malaysia’s blockchain app and web interface. The app will ensure secure, transparent, third-party verification in the country’s palm oil supply chain.
With Malaysia’s blockchain app, another layer of accountability is added to every touchpoint in the Palm Oil supply chain network. The idea is to start from the palm tree to processing and delivery to the final consumer as the app has been tested on the pilot scale.
Following its pilot test, the next phase of the app is to be delivered to its users who will get it through a user agreement to all Malaysian oil palm growers and palm oil processors.