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Blockchain Technology has added another business sector to its kitten while the Indian conglomerate Mahindra has decided to use the technology for its grape exports. This strategic move by Mahindra is designed to dispel global market concerns about the transparency of its supply chain and the overall image of the Indian export market brand.
Alarming customers' doubts
Commenting on the development, Ashok Sharma, CEO and CEO of Mahindra Agri solutions Limited, stated that the company is the first in the world to adopt blockchain technology for its grape exports. This implementation will help customers to be sure of the quality of the grapes they are consuming. The company's top executive believes that the blockchain will drastically change the scenario of India's food exports sector and will demonstrate a milestone in the way future activities will be conducted. Sharma recognizes the well-known fact that there are very few cases in which it is about the implementation of blockchain technology in India and Mahindra is proud to be the one to adopt it.
Test ride
Mahindra plans to export around 800 to 900 grape containers this season, of which 40 to 50 will be equipped with blockchain technology. The supply chain for the whole process has already been set up and if the tests end with a positive affirmation from the customer, the company will equip more containers with blockchain technology from next season. The shipping process will start provisionally in January or February and, for now, the reference markets for the company will be Europe and China. Mahindra is working hard to create technological differentiation with customers who, in turn, help to improve the image of the Indian export market. There are challenges for Indian grapes in the global market, where people are concerned about the agricultural practices used in India, the state of the supply chain and also about ethical issues related to agriculture. Over the years, all these concerns have met and now threaten to put a question mark on the image of the Indian grape brand.
Change game change
Calling this move as a turning point, Sharma added that the adoption of blockchain technology would help develop a complete ecosystem that allows the customer to track all the details of the product and its supply chain with help. of a special digital code. This code will contain all the information on the stakeholders involved in the production and distribution of the grapes and will include information such as the details of the farmer, the dates of collection and laboratory tests, the government certifications, the agricultural images and the type of pesticides or products chemicals used in agriculture, etc. This will allow consumers to have all the necessary information on the product, thus mitigating their doubts about the quality of the grapes.
Mahindra will use its internal expertise to develop this technology. This latest take on is a further indication that blockchain technology is rapidly expanding its user base, as more and more companies across the industry are embracing this open ledger system to improve speed and speed. 39; efficiency in a safe and secure way.
