Agro-tech firm DSTE launches blockchain platform to bust fraud, boost safety

DSTE chief financial officer Chin Kuen Liang (right) said the system will change how businesses are run, especially in financial transaction and asset management. — Picture courtesy of DSTE Capital Limited
DSTE chief financial officer Chin Kuen Liang (right) said the system will change how businesses are run, especially in financial transaction and asset management. — Picture courtesy of DSTE Capital Limited

KUALA LUMPUR, July 31 — In a bid to address issues of food safety and fraud in the country, agro-tech firm DSTE Capital Limited has launched its own blockchain platform to help businesses and consumers track agriculture produce.

Dubbed the DSTE CHAIN, the platform tracks information of agricultural processes to minimise the risk of fraud and malpractice while improving transparency.

The platform uses distributed ledger technologies (DLT), Internet of Things (IoT), smart farming and other innovations.

DSTE chief financial officer Chin Kuen Liang said the system will change how businesses are run, especially in financial transaction and asset management.

“We see a pressing need to resolve food fraud and safety issues in the industry. The lack of transparency and traceability in the food supply chain is often caused by outdated or traditional systems that lead to inefficiency of data sharing.”

“In view of this, the demand for DSTE CHAIN with DLT technology emerges. DSTE CHAIN’s ecosystem is able to trace from farmers, plantation, logistics, to food processing, transportation, retail and consumer.

“With DSTE CHAIN, the trust is heightened as all processes and data cannot be changed or revoked. This rendered data gathered to be transparent and trustworthy, making DSTE’s system irrevocable,’’ he said at the platform’s launch in Labuan last Sunday.

DSTE will start trialling the platform in the facilities they own in the country such as their durian farms in Telemong, pineapple farms in Kuala Krau and agro farms in Kuala Kangsar, Perak.

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