[Warta Ekonomi] Blockchain to Solve Global Palm Oil Industry Challenge

Asian Agri along with other relevant stakeholders have initiated the establishment of SUSTAIN (Sustainability Assurance & Innovation Alliance) which utilises blockchain as a solution aimed at solving existing challenges surrounding traceability and sustainability in the oil palm industry.

SUSTAIN is seen as the answer to overcome obstacles to the oil palm industry, which is the backbone of the national economy. Most of these obstacles are from the European Union and the United States, as well as several countries in Asia which have moved to block palm oil from Indonesia from their markets.

Utilising blockchain to stimulate collaboration among many stakeholders is a practical solution to boost transformation of the traceability system, which will hopefully bolster the national oil palm industry’s capability in reaching broader markets.

SUSTAIN will provide open access to a system with downloadable tools which can be employed by a wide range of users, including dealers and smallholders. Relevant parties will be able to use the tools to establish traceability, monitor policy compliance, efficiently trade Fresh Fruit Bunches, obtain best practice guides, and access innovative microfinancing.

To implement this blockchain solution, SUSTAIN is working with SAP Leonardo as its partner. SAP provides support for new technologies including machine learning, artificial intelligence and blockchain.
Andreas Diantoro, Managing Director of SAP Indonesia, said the collaboration will provide fast and accurate information about the origin of palm oil to each consumer.

Read the full article (Bahasa) : Warta Ekonomi