Owner To Owner Podcast Adj. Professor Warwick Powell from BeefLedger on why provenance = profit
Warwick Powell connects #regionalAustralianbusinesses, #marketplaces, #regionalcommunities and economic project opportunities with the growing markets of Asia and in particular, #China, #HongKong and #Macau.
He's had wide experience in #cmmunitydevelopment and #regionaldevelopment and has spent 25 years engaged in regional businesses, particularly in #regionalQueensland, working across diverse industries from information technologies and communications, through to #naturalresources, #tourism, #agribusiness and property development.
Some of his current roles include;
- Chairman at @SisterCityPartners (a not for profit regional investment banking enterprise founded to build resilient regions)
- Chairman at www.BeefLedger.io (a blockchain enabled integrated provenance and payments platform development and implementation in the beef supply chain)
- Adjunct Professor at QUT
He also has an extensive understanding of China, Australia, trade relations
In this absorbing discussion Warwick talks about;
- how Australian regions can better connect with the bigger markets immediately north of Australia.
- why Blockchain as a technology is now 'hitting its straps' having been around about 12 and a half years
- the main virtue of #blockchaintechnology - the ability for information, that many parties need to have confidence in, to be created and shared in a way so that all the different parties can depend on it
- the problems in traditional information systems where the information that's been passed along from one player to another runs into a whole bunch of risks in terms of validity, accuracy, timeliness, authenticity, etc
- what blockchain allows us to do - to ensure that all the players involved in a particular supply chain activity are involved in the key phases of information production, validation, storage, dissemination and consumption at the same time
- the shared responsibility for data integrity in blockchain, which speeds things up, reduces costs associated with having to doublecheck things, and ultimately smooths out the ways in which supply chains work
- #supplychains
- how #beefledger uses #blockchaintechnology to improve the flow of information all the way through to the end consumer, but principally focused around the wholesale marketplace to ensure that owners of assets and buyers of assets can be confident in what they're buying
- his collaboration with @QUT and the www.futurefoodsystems.com.au CRC #Cooperativeresearchcenter
- One of the things about the blockchain ecosystem is that a lot of effort over the last 10 years has gone into really what I would describe as back end or back office issues.
- #smallbusiness using #blockchain
- how #blockchain starts to tackle questions around #informationdoubt
- and why doubt equals discount and provenance equals profit
- why when there is doubt around the veracity of the claims you're making about your product the marketplace will discount that
- why when the marketplace has confidence in the provenance claims of the products they're buying provenance equals profit.
- how to build a loyal customer base by building their confidence that what they're getting is more likely than not to be what it's meant to be
- how at @beefledger they are trying to create the right incentive mechanisms using blockchain technologies and smart contracts that reward the pursuit of excellence
- when the question of #informationintegrity becomes a common public good
- the reality that Australian production systems are often quite a bit more expensive than alternatives in other parts of the world, which means we really need to work very hard at the value proposition that that is sufficiently persuasive that says, look, it is a bit more expensive but there are the benefits
- #Australianexporters
- the economic sanctions that are China putting on Australia
- how he sees the next 20 to 25 years with Asia continuing its path to economic development and greater wealth
- Australia as one of 15 signatory countries to the #RegionalComprehensiveEconomicPartnership (#RCEP).
- @ASEAN group
- the ongoing growth of China which is likely to become the world's largest economy in the next, within the next 10 years
- why Australia needs to think seriously about the importance of #RCEP as an institutional framework.
- #customs #paperlesscustoms
- blockchain enabled digitized payments - the fast lane vs the slow lane
- the need to ensure that there are sufficient pipelines for data flows.
- the need to build capacity throuhgh #education not only in a very traditional sense, but also amongst #SMEs, to make sure that people don't feel alienated from these new technologies.
- the growing marketplace for digital products In Asia because of their digital nativeness
- how developing countries have been able to skip over some of the legacy infrastructure that we're still held back by and have moved straight into a mobile smartphone experiential market
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Reach out to Michael Kerr via the website if you need personal assistance or advice for your small business.
michael.kerr@kerrcapital.com.au
www.ownertoownerpodcast.com.au