The Malaysian Palm Oil Council (MPOC) is working with BloomBloc, a blockchain development company based in Switzerland and Malaysia, to implement blockchain technology in the country’s palm oil industry. This project aims to reinforce MPOC’s commitment to sustainable, transparent and responsible supply chain, in order to raise the level of trust in its palm oil industry across the global market.
MPOC CEO Datuk Kalyana Sundram said that under this partnership, a blockchain mobile app and web interface will be developed specifically for the Malaysian palm oil industry. Information can be entered into the system at each part of the supply chain, starting from the individual tree, using the smartphone app. This will automatically create an end-to-end digital ledger, based on the enterprise blockchain Hyperledger Fabric, providing transparency, accuracy and credibility for stakeholders and end customers. The app will be made available for pilot implementation to Malaysian oil palm growers and palm oil processors, plantations and smallholders.
According to BloomBloc, the app could also enable family farms or smallholders to gain more control over their processes, resulting in increased production and reduced costs, thus demonstrating MPOC’s commitment to fair trade and sustainability. It also follows the implementation of the mandatory Malaysian Sustainable Palm Oil (MSPO) certification standard to further ensure the value of the certification to customers.
(Sources: Foor Navigator Asia; Ledger Insights)