How farmers and food producers can benefit from blockchain technology is a question we’ve rarely asked ourselves. But, agriculture is one of the areas that blockchain has the most potential to disrupt.
With the correct applications, blockchain technology can help farmers maximize the potential of their fields. For example, it might be a single, trustworthy source of information about their stock, agreements, and farm circumstances.
As a result, there is no longer a need for data entry by hand, making technology more useful to man.
How Farmers and Food Producers Can Benefit from Blockchain Technology
Blockchain technology has the potential to decrease the time and effort required for the agriculture value chain while also increasing the effectiveness of the entire procedure. There’s no denying that it’s essential for modern agriculture given its capacity to automate and digitize the food supply chain.
Farmers and food manufacturers need to be aware of the many potential presented by blockchain technology. Here are some ways it could benefit them:
Improved Food Safety and Quality Control
The agricultural supply chain can become more transparent with the use of blockchain technology. Ineffective processes can be analyzed, noted, and eliminated to offer the best possible quality control conditions.
Keeping track of farm inventory
Each country produces more fruits and vegetables than it uses up due to poor agricultural management following harvest. Up to 34% of the fruits and vegetables are spoiled before they are delivered to their final destination. Clearly, there is a problem that needs to be solved.
Sensors can be used with blockchain technology to constantly monitor crop storage. Then, through a decentralized ledger that is accessible to all participants, farmers can access these sensors.
Minimizes human error
Human error is common. Food producers and farmers are not an exception. Numerous mistakes could occur during data gathering, employee reporting, or even simple computations.
The losses brought on by human error and failure can be reduced by blockchain technology.
Of course, there have been some terrible actors in the agriculture industry. It has been unsuccessful to try to combat this merely with human effort.
Data is stored using blockchain technology in a decentralized fashion, making it impossible for anyone to alter or tamper with it. As a result, it reduces the possibility of fraud and guarantees that those engaged in online trade transactions are safe from unauthorized actions.
These are just some of the ways blockchain technology can disrupt agriculture.
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