Ernst & Young Japan Plans To Launch Blockchain Based System To Track Fraudulent Sales

The Japanese branch of global accountancy firm Ernst & Young, EY Japan has declared plans to unveil a blockchain system for tracking Japanese fruit and sake. The system will also be used to prevent the sale of duplicitous or fake products.

As per Asian Nikkei Review, Ernst & Young Japan’s SAKE Blockchain will be unveiled across Asia once the peril of the coronavirus and a steady business setting has been regenerated across the region.

The company is reportedly eyeing Hong Kong and Singapore as foremost markets that are also open to DLT.

The blockchain will be used to track and record detailed information across the supply chain for Japanese produce including information on the origin of production and delivery routes.

Customers will be permitted to access the records by scanning a QR code printed on the labeling of the bottle. and will include recommendations for food pairings. The data will be accessible in three languages. These include Chinese, English, and Korean.

Comprehensive temperature archives will also be set aside throughout the supply chain in order to guarantee that produce is stored in an ideal setting both while shipping and while in the custody of foreign restaurants and bottle shops.