Interesting paper by FAO and ITU breaking down blockchain and explaining the opportunities for blockchain application in agriculture such as financial and agricultural risk management for smallholders, supply chain management and cash-based transfers.
thank you @daniel_miller! really helpful resource. @SevagKechichian flagging this for you - it gives a lot of interesting use-case examples for blockchain in agriculture that provide a great starting point / companion for the trends analysis
curious if other community members have some exposure to blockchain applications in farming/food. @NickOttens do you have any ideas?
Super interesting! I came across this article today. It’s an example of Bumble Bee Foods, a sea food company, which uses SAP, a Cloud Platform Blockchain service, to track fish from the moment it’s caught all the way to the consumer. By scanning a QR code on the package, consumers access information about who caught the tuna fish, the size of the catch, freshness, and safety.
Blockchain can serve to be an incorruptible digital ledger of all transactions involved in a supply chain for efficient traceability, food safety, fighting food, fraud false labeling, and redundant middlemen etc.
An assigned permanent link between the blocks in the chain eliminates the possibility of data tampering, and each shared piece of information is time-stamped, providing transparency, legitimacy and security.
Blockchains can also enable feedback to feed manufacturers, producers, and processors about how the product is performing, and help with production planning, all of which could have a financial benefit at the farm level.
Companies like **AgriDigital **are already making headway in creating more transparent and efficient supply chains through the use of blockchain technology. They are applying the technology directly to the grain trade and also plan to expand into other agricultural commodities, such as cotton.
Late 2019, predictions are public blockchain platform will prevent more food from going to waste, due to mismanaged systems and poor communication between producers, middlemen, and retailers. The platform will help farmers to grocery suppliers, in the food ecosystem matching production, supply and demand.
A 2017 story from Forbes… The Blockchain of Food
Thank you for sharing!