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Everledger partners with Australian Wool Innovation on blockchain tracing tech

By Rachel Douglass

24 Dec 2021

Business

Image: Everledger x AWI

The UK’s Everledger, the parent organisation of The Woolmark Company, has partnered with Australian Wool Innovation (AWI) on a supply chain traceability proof-of-concept, with the goal of enabling information sharing on wool provenance and supply chains.

Together with the Australian wool industry and its partners, the two companies have begun tracing the lifetime journey of wool products, hoping to create new sources of value for wool growers, manufacturers and retailers. The process utilises blockchain technology to capture information along the supply chain and provide verifiable provenance.

The process supports biosecurity efforts, according to AWI, and can deliver on compliance and reporting requirements, offering value to both buyers and growers.

“What is clear from this proof-of-concept is that there is demand across the value chain and by stakeholders for the wool industry to deliver on traceability, and we look forward to advancing on the gains made here,” commented John Roberts, acting CEO of AWI, in a statement.

“Traceability used to be considered a nice-to-have…”

The pilot project worked with seven supply chains, tracing from woolgrowers through to exporters, to understand the nature of business processes, types of claims and data available. The prototype established looks to enable participants to navigate this supply chain opacity, offering blockchain-backed information that remains reliable.

“We love working with visionary partners,” said CEO of Everledger, Leanne Kemp. “Traceability used to be considered a nice-to-have, now in multiple supply chains and across many material types, it is essential. Other industries, such as critical minerals and batteries are now rapidly responding to regulatory requirements for transparency and accountability, such as those coming into effect through the European Union in 2023, or to resolve questions of Modern Slavery or greenhouse gas emissions.”

She continued: “AWI is taking a lead for other traditional industries in Australia to follow, and in doing so demonstrates both responsible leadership and an acute vision to see how blockchain combined with other technologies can generate significant economic value and sustainability.”

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THE WOOLMARK COMPANY