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NAB bolsters green loan offering with blockchain technology

Melinee Leather, co-owner of the Leather Cattle Company, said the new technology generated data that helped them keep track of how their sustainability efforts contributed to carbon reduction.

“We invest an enormous amount of hard work into making our cattle production green and sustainable,” Leather said. “Working with NAB and Geora to track this digitally means we can actually prove the impact of these green projects. The ability to store information using blockchain will also be of value to purchasers of our beef to show the credentials in the quality of our product.”

Meanwhile, Geora CEO and co-founder Bridie Ohlsson said the initiative was a good example of a collaboration between traditional banking and the start-up industry.

“The process of building more sustainable agriculture involves moving trust from the physical world to secure digital environments,” Ohlsson said. “NAB is a core part of the producer’s trust network in Australian agriculture, and that’s one of the reasons we are so excited to be working together.”

Geora was founded in 2019 and has since been using blockchain networks to provide farmers across the globe with data solutions.    

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