Australia develops new blockchain security architecture TBSx3
One of the largest and most comprehensive trials of blockchain technology for global supply chains has just successfully ended with a new Australian developed blockchain security architecture, TBSx3 potentially raising global supply chain security to a military grade as a standard feature.
The TBSx3 system uses a military grade 44 alphanumeric character security cryptography, compared to the six digit public cryptography which up to now has been commonly used.
The TBSx3 architecture provides an unprecedented three levels of supply chain security: 1) sophisticated proprietary systems developed by major port and shipping operators; 2) the new TBSx3 security envelope into which the proprietary systems can be integrated and 3), the unique and dynamic distributed blockchain ledger which is transparent at any time to all partners in the chain and continuously provides live information, particularly during the many custodial changeovers before the product is finally delivered to the consumer.
The new TBSx3 benchmark was successfully used on an 8,100 kilometre global road and sea supply chain stretching from the wine growing Coonawarra region of rural South Australia to the port of Qingdao in north-eastern China, which ended this week.
Partners included: DP World Australia (one of the five largest port operators in the world), DB Schenker (No.1 in European land transport and No.3 in global air and sea freight), Hamburg Sud (one of the world’s 10 largest container shipping lines) and Australian wine producer IUS, which exports seven product lines into the rapidly growing Chinese wine market.
KPMG advised TBSx3 on the trial and verified the custodial handovers for the integrity of the product on the 8,100 kilometre land and sea journey. Furthermore, KPMG simulated the customer at the end of the trial by receiving, validating the product and checking if the system could potentially detect duplicates.
The successful completion of the 8,100 kilometre supply chain trial between Australia and China is the first of a planned series with multiple partners which “simultaneously test the robustness of TBSx3 blockchain technology for every custodial link in global supply chains and also verification protocols for both bulk product and individual items for retailers and consumers at the end of the chain,” according to TBSx3’s Chairman, Mr. Anthony Bertini .
Verification at the retail end following constant tracking from the production source of the supply chain is critical to brand and product provenance, Mr. Sam Brand the founder and vintner of IUS Wines said.
About DP World Australia
DP World Australia is Australia’s integral port supply chain partner and part of the DP World network of 70 international container terminals. Our dedicated and professional team of 2,000 people operating marine ports in Melbourne, Sydney, Brisbane and Fremantle cultivate long-standing relationships with governments, shipping lines, importers and exporters, communities, and many other important constituents of the global supply chain. Customer care is our first priority. We create tomorrow’s supply chain solutions, today.
About TBSx3
Founded by Sydney based Mark Toohey, Chairman of Adroit Lawyers, an experienced General Counsel for publicly listed media and technology companies, TBSx3 research teams in Sydney and Beijing are working with global partners, which represent each part of a supply chain, to provide a whole of chain security solution. TBSX3 research teams in Sydney and Beijing are developing a blockchain enabled military grade automated security architecture, which can significantly reduce the time, cost and documentation for custodial handovers from the beginning to end of a chain and validate the integrity of product at any custodial point.