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What Are The Benefits Of Blockchain In Agriculture? 5 Experts Share Their Insights

  • 30 June 2019
  • Sam Mire

Blockchain is primed to take farming into the 21st century, and beyond. The technology could connect sensors throughout a farm to provide real-time crop monitoring. A farmer with blockchain systems would receive notification of crop abnormalities near-instantly, not weeks later.

A blockchain ledger would also enable unrivaled provenance. Supermarkets know a bit about where their produce comes from. But a general idea is no use when tracing the source of a foodborne disease outbreak — blockchain could save lives.

Businesses could also cater to the vegan and organic crowd using this technology. It makes it easier to answer questions like: was this lettuce sprayed with fertilizer? Is this seed genetically modified? Did it come in contact with any animal products at any point along the supply chain?

The 21st century shopper wants answers to these questions, and they’ll make buying decisions based on the answers. Blockchain tells the story of each item in a supermarket, creating a massive advantage for stores and restaurants that embrace the technology.

Here’s what industry experts have to say about blockchain’s benefits in agriculture.

1. Emma Weston, CEO and CO-founder of AgriDigital

Emma Weston“The number one benefit [of blockchain for agriculture] is around digital trust. For too long farmers and growers have operated with high levels of counterparty risk. Buyers and sellers cannot operate with confidence because they do not know that they will receive timely payment for their commodities and be able to access the finances necessary for business stability and growth.”

2. Daniel Pigeon, Technical Writer at Komodo

Daniel Pigeon“The bottom line is this: blockchain technology can help save businesses money. If it didn't boil down to this, no one would care.

Blockchain can make supply chain management and food tracking easier and cheaper. Plus, it can reduce the amount of product that needs to be destroyed in the event of an outbreak or contamination. And, as an added bonus, blockchain can help agriculture take a more customer-focused approach and allow consumers to verifiably know all the details about the food products they're purchasing.”

3. Michelle Klieger , Founder and President of Stratagerm Consulting

Michelle Klieger“A comprehensive agriculture blockchain system offers transparency and traceability that consumers want from their food system. Consumers want to know where and how their food was produced. With blockchain, they would get verifiable proof, which is a major improvement over current third-party verification labels.

Blockchain also offers superior traceability that helps governments and companies respond faster to food safety concerns. Recalls would be faster and more targeted, thus encouraging people to heed the warnings. It would also reduce food waste since food companies would be able to better identify infected and non-infected items.”

4. Braden Perry, Ag Business and Blockchain Attorney at Kennyhertz Perry

Braden Perry“Most agricultural companies would benefit from some aspect of blockchain technology, from the supply of products, fair pricing, efficient supply and improved product tracking. It will also enable agricultural producers to do real-time management of their production and storage. {Everything] from seed procurement to harvest to sale can be recorded on a blockchain, which assists producers and consumers in quantifying, monitoring, and controlling the agriculture process.”

5. Carlos Iborra, CEO of FruitsApp

“Thanks to this new data transmission and storage system, aspects of agriculture impacted include: 1) Improvement of the traceability system. Currently, there are still companies that play an unfair role, without respecting the chain of traceability, which can be altered during communication from one side to another. In this way, [the blockchain] is unalterable, creating much fairer conditions for all actors. 2) Greater security in the food chain, eliminating those actors that are unnecessary in the chain, speeding up the purchase and sale process. 3) Application in logistics, improving the process, since due to the fact that we are faced with perishable products, it is very important to know the conditions in which the goods have been stored and where [they are] at all times.”

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About Sam Mire

Sam is a Market Research Analyst at Disruptor Daily. He's a trained journalist with experience in the field of disruptive technology. He’s versed in the impact that blockchain technology is having on industries of today, from healthcare to cannabis. He’s written extensively on the individuals and companies shaping the future of tech, working directly with many of them to advance their vision. Sam is known for writing work that brings value to industry professionals and the generally curious – as well as an occasional smile to the face.