Blockchain to change future agribusiness
According to Blln Anthony Robberts of Bitcoin, BlockChain offers reduced barriers in agricultural industry, helps in tracing the produce origins’, enhances fair pricing and enables produce tacking asserts and Cryptocurrencies Entrepreneur in the just concluded meet the farmer’s conference in Nairobi.
“Blockchain has so far been most useful in the agriculture sector in terms of understanding the source and journey of produce,” Anthony Robberts.
He says this is vital for both farmers and consumers as it allows farmers to negotiate better prices throughout the supply chain, while giving consumer’s confidence in the knowledge of exactly where produce they buy comes from.
“This is key aspect when considering the growing lack of trust in the sourcing of produce sold in markets,” he says.
He affirms that Blockchain technology will completely change the way business and trade is conducted in future, comparatively the cost of financial remittance across the globe, he way elections will be conducted in future and provide secure amicable way to store data.
Companies in the agricultural industry have started to use Blockchain technology to create systems that will record the journey taken by produce through the supply chain by utilising the power of a shared secure ledger. Older agricultural models are also seeing resurgence, using the Blockchain to improve upon established practices.
[bctt tweet=”The food agriculture industry has a strong need for supply chain intelligence technologies that support the traceability of critical product data through supply chain across all affected businesses.” username=”@FarmersTrend”]
While agriculture is the most significant sector in rural areas and provides a livelihood for 70 per cent of the world’s poor, it is also the industry that provides the biggest disconnect between supplier and retailer. Using Blockchain, however, a more direct link can be established, ensuring that farmers receive fair payment for their produce and enabling retailers to verify that they are getting what they’ve paid for.
The agricultural industry could see increased global exchange of produce through the exchange of digital products and currency. This could affect everyone from rural farmers selling to consumers across the globe, to large nations accurately tracking their aid relief. This could lead to fairer distribution of goods and currency amongst some of the poorest regions of the world, as well as increase community-based agricultural models on a global scale.
Additional data can also be tracked through Blockchain technology, allowing conscientious consumers to make decisions about their food based on ethical concerns about energy sustainability or fair labor practices.
By Malachi Motano
Hits: 71https://farmerstrend.co.ke/blockchain-agribusiness/https://i1.wp.com/farmerstrend.co.ke/wp-content/uploads/2018/10/“Blockchain-has-so-far-been-most-useful-in-the-agriculture-sector-in-terms-of-understanding-the-source-and-journey-of-produce”-Anthony-Robberts..jpg?fit=600%2C398&ssl=1https://i1.wp.com/farmerstrend.co.ke/wp-content/uploads/2018/10/“Blockchain-has-so-far-been-most-useful-in-the-agriculture-sector-in-terms-of-understanding-the-source-and-journey-of-produce”-Anthony-Robberts..jpg?resize=150%2C150&ssl=1#TrendingAccording to Blln Anthony Robberts of Bitcoin, BlockChain offers reduced barriers in agricultural industry, helps in tracing the produce origins’, enhances fair pricing and enables produce tacking asserts and Cryptocurrencies Entrepreneur in the just concluded meet the farmer’s conference in Nairobi. #FarmersTrendJohn Bujufarmerstrend@gmail.comAdministratorI am a web enthusiast, writer and blogger. I always strive to be passionate about my work. I started my work at the beginning of 2013 by engaging myself with detail reading and exchanging information regarding farming with others. Since then things and times have changed, but one thing remains the same and that is my passion for helping and educating Kenyan farmers, building a successful blog and delivering quality content to the readers. The particular interests that brought me in the world of blogging are gardening, farming and livestock.Farmers#Trend