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Blockchain technology is increasingly being announced as a solution to many of the problems facing today's agricultural supply chain.
Many of today's farmers are keen to adopt cutting edge technology to help solve a number of problems in the industry.
A mid-year review from Ag Funder said the start-ups of company management software, tracking, and IoT were already able to accumulate $ 213 million in financing due to interest [19659003] However, despite the huge market opportunities in the agricultural technology sector, an increasing number of farmers are turning cautiously towards new technological trends due to a – leads the revolution of "miraculous" solutions that simply do not emerge.
Now, as consumers become more concerned with the traceability and transparency of food from farm to plate, some think the blockchain has a lot of potential when it comes to solving important problems in the agricultural supply chain.
Application of the Blockchain to agriculture
So far, the marriage between blockchain and agriculture is still largely in the early stages since AgriDigital realized the first sales globe of 23.46 tons of cereals on a blockchain December 2016.
In the following years, initiatives such as AgriLedger have worked to create bonds of trust between African agricultural cooperatives by relying on an encrypted and distributed mobile applications.
Currently the blockchain is gaining mass attention in the agricultural world, especially because researchers funded by the Dutch government have hypothesized that the technology could be used to generate more consumer confidence in the food system and even lower costs for the agro-food industries.
[19659003] Most blockchain-based agricultural solutions revolve around improving food traceability. Some Chinese entities have used blockchain to keep track of pork and beef supply chains as food security has been a problem in the country.
Pilot studies of the Blockchain Food Safety Alliance found that blockchain was able to trace food from a farm to another few seconds. This is a significant improvement over current food tracking systems.
The quickest traceability would have probably contributed to reducing food recall times, thereby reducing the risk of food poisoning or other diseases associated with contaminated products. Down On Agricultural Fraud
Blockchain is also publicized as a way to help keep bulk goods under control and reduce cases of fraud related to shipping or illegal collection. According to the UN, food fraud costs the global economy about 40 billion dollars annually due to illicit trade
The World Wildlife Foundation (WWF) announced the Blockchain Supply Chain Traceability Project in January 2018, focusing on the use of technology to help end illegal fishing for tuna.
Some coffee companies are using blockchain to make sure that shipments and assembly of beans are performed correctly. Suppliers of organic dairy products, meat and eggs are also examining technology as a tool to prevent illegal animal feeds entering the supply chain.
Many of these suppliers are specifically interested in the aspects of the immutability of the blockchain, since organic feed supply chains can be complex and multifaceted because it is often of foreign origin.
As a result, some think that blockchain could be particularly useful in promoting the integrity of organic food supply chains, which would help consumers stay confident while spending extra money on premium food products.
Do you think that the blockchain plays a significant role in the future of agriculture? Let us know in the comments below!
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