Carola Schouten, minister of agriculture, nature and food quality, recently invited Berry Buter, the CEO of Cryptomizers. This was to give her a short crypto college on the opportunities that blockchain could offer agriculture businesses. Schouten was accomplished by several big agriculture firms that were also curious if implementing blockchain technology could bring them new solutions. The main subjects were food safety, transparency and efficiency. Today we’re going to share three use-cases where blockchain could work for agriculture businesses.
Food Safety, Supply chain and blockchain
In case you wondered: “What in the world could blockchain technology do for the agriculture businesses?”, have you thought about supply chain management, transparency towards customers and food safety? IBM along with companies like Albert Heijn and Walmart have started leading the charge in this capacity. Bringing transparency to the supply chain will allow companies to identify and remove bad actors and poor processes. This ensures ideal conditions from farm to market. They can also pinpoint sources quickly in the event of a food safety outbreak. This potentially saves time, money, and lives. Implementing blockchain also ensures that the product your customers buy actually is yours and not some sort of rip-off. It makes sure that the date is correct and the product has had all the necessary quality checks. All in order to ensure a safe meal for your customers.
Agriculture, phosphate rights and blockchain
Another problem for agriculture businesses is clearly the legal part of their businesses: phosphate rights. “Could blockchain work as a solution for dividing phosphate rights, making the process more transparent and offer tradability of these rights in a secure and efficient way?” were by far the most frequently asked questions within this subject. The thing that’s special about blockchain technology is that through cryptography we can create an ledger of assets and transactions that cannot be tampered with or “hacked”. That ledger allows for peer-to-peer transactions of currency, commodities, or really anything else of value to take place transparently because all the participants will always have access to the created ledger of assets and all of this can happen without the need for an intermediary like a bank/middleman. Blockchain has therefore all the requirements needed to bring a custom solution for this problem.
Smart Agriculture, IoT and Blockchain
The last use-case we would like to mention is a bit more focused towards the future. Smart agriculture is the application of technologies such as Internet of Things (IoT), Big Data, Global Positioning System (GPS), Cloud Computing, and Artificial Intelligence (AI). Smart agriculture is an innovative way of carrying out farming activities by reducing human efforts and by making maximum utilization of the available resources. We predict that blockchain is going to be key for this. Smart agriculture can solve the problem of shortage of agricultural workers, improve the ability of agricultural production to resist risks and help small/weak farmers to produce a large-scale network and intelligent transformation. Within this process there is a lot of top-secret data and blockchain is going to be used to secure this.
Although the previous mentioned solutions are by no means the ONLY potential use-cases for blockchain in agriculture, we just wanted to give you some insights in the solutions that we’ve encountered in the world of blockchain. Please note that smart agriculture blockchain is focusssing on the future, the currently available blockchain solutions probably won’t be capable of doing this yet, since the fast amount of data transactions would simply be mind-blowing. We need at least 5G and also the next generation of computing power/IoT devices.
What use-cases have you encountered and in which branch do you think blockchain has the most use-cases? Let us know in the comments and we might write a second use-case article! If you have any questions regarding the use-cases or maybe wonder if blockchain could make a use-case within your branch, feel free to leave a comment or contact us.
Have a Cryptastic day!