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How Blockchain Benefits the Agriculture Industry?

By Enterprise Technology Review | Monday, February 10, 2020

Blockchain technology has many applications, including the solutions to problems in agriculture, like the traceability of food products, finance, insurance, and supply chain transactions. Adopting this technology brings forth many benefits to the industry.

FREMONT, CA: Blockchain technology can improve the traceability of crops and deliver better outcomes. Basically, with a blockchain ledger, the agricultural companies can get to know the right status of crops from planting to delivery. Along with this, every information will be secure and available in real-time. As most growers already know, at present, the consumers are more interested in organic foods. The chances of meeting the expectations are higher if farmers can provide proper documentation of the supply chain involved in those foods.

Blockchain technology is a revolutionary technology and is the ultimate solution if used correctly. With this technology, the process of verifying a product's certification will be a lot faster and more effective. The method of monitoring the quality of crops right from harvest to delivery has never been secure. It's mostly a massive challenge for the farmers throughout the world. But of course, the good news is, the power of blockchain technology can be harnessed in this regard.

For the most part, blockchain provides a single and unalterable source of truth about the condition of the agricultural farm, inventory, and also the contracts. So, the farmers may no longer have to use countless apps, spreadsheets, or pens and paper to record relevant data. Blockchain technology can reduce inefficiencies while saving time and energy in the agriculture value chain. Implementing blockchain helps to improve automation, digitization, and food tracking, there's no doubt that blockchain technology is a must for modern agriculture.

The agrarians can now tell that blockchain will disrupt the industry in a big way. Perhaps the most significant advantage here will be the ability to track food from harvest to storage to delivery. What's more, being able to monitor farming operations and record essential data in a single, immutable record is enormous. All in all, blockchain technology is the ultimate solution to the challenges facing modern-day agriculture.

Check Out : Top Blockchain Startups

See Also: Top AgTech Startups

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