Farmers Get Behind Blockchain
Blockchain has more to do with beef patties than you first thought, with the introduction of streamlined and encrypted supply chains taking the fuss out of the food sector. Blockchain is finding real-world applications, at last!
Years ago, there was an uproar in Europe as consumers realized they were eating horse meat in products that didnโt have it labeled as an ingredient. European supply chains were simply too complex and convoluted, with an abundance of middle-men forced to navigate confusing red tape hidden within stacks of paperwork. Now, the 0.03% of investors who actually understand what Blockchain technology is reckon theyโve cracked this problem.
With a bulletproof ledger recording the transactions between farmers, retailers, and ultimately consumers, complexity can be cast out! Every product moving through a supply chain would be tagged by โinternet of thingsโ sensors, doing away with hours of paper-pushing, restoring simpler regulation, and restoring consumer trust!
Investors could be looking at 31-billion-dollars of โfood fraud savingsโ plus any overlapping benefits from other sectors. Perhaps this was the intended use of Blockchain all along, rather than as a prop to rogue financial instruments. The less said the better, we donโt want to start a stock market holy war! Major utility firm, Iberdrola, has begun an end-to-end experiment using blockchain and โinternet of thingsโ sensors in the energy supply chain. Weโll bring you the upshot!