Safer Agriculture With the Blockchain

Blockchain technology is becoming familiar and promises to resolve many problems allied with the lack of faith. The capacity of blockchain in agriculture may lead to an exciting shift facilitating transparency and trust in food chains that guarantee food integrity. The permanent transactions and distributed data access promote data exchange and reduce fraud.

Blockchain could improve the quality of agricultural products. In Japan, agricultural experts are employed on a blockchain platform intended to track the quality of vegetables and other agricultural products. The platform is operated to record and store a wide range of data that incorporates the details of crops grown, sprayed pesticides, and fertilizers used. Following the trail of the quality of agricultural products helps boost the prices of these vegetables.

Innovative contract-enabled agricultural insurance on a distributed ledger technology would provide better insurance coverage for many farmers. Without human intervention, the process becomes simple, transparent, and efficient. Smart contracts would remove the risk of fraudulent claims and corruption from insurance providers. Data collected at weather stations could be documented on a DLT.

Blockchain in agriculture traces the machinery maintenance records, sensors, and other equipment. The revised status of the crops is documented in a digital ledger. The technology will enable the farmers to automate and enhance the efficiency of the existing equipment. It is secure and transparent. It also allows farmers to do real-time management of the stock. All the information can be documented on the blockchain, and this will aid producers and consumers analyze, monitoring, and controlling the risks throughout the agriculture process.

Blockchain will support establishing a direct link betwixt farmers and consumers. It can improve trust between parties, facilitate information sharing throughout the supply chain, and dramatically reduce agricultural transaction costs. It is time for farmers to use the emerging technology to get what they deserve.