Application of Blockchain technology in agriculture
Traceability of crop in the supply chain:
• Blockchain technology can help improve the traceability of crops for better outcomes.
• With a blockchain ledger, you tend to know the status of your crops right from planting to harvest.
• All collected data are secured and available in real-time.
• Proper documentation of this data helps in decision making most especially food safety.
• Provide reliable information regarding the origins of food.
Logistics and payment
• The blockchain system helps solve the problem of moving produce along the agricultural supply chain and ensures payments are not hindered.
• This system ensures farmers are free from the long chains of intermediaries.
• It helps communicate loads, geo-waypoints and basic compliance information with carriers.
• It helps provide more visibility across the supply chain
• It helps register the parties involved, price, date, and state of the product
Optimization of the Food Supply Chain
• It allows farmers to set their prices and optimize their quantities of products
• The system provides up-to-date supply and demand information to stakeholders
• It helps correct pricing imbalance by recording transactions in real-time
• It helps farmers to sell their commodities lowering transaction fees
• It provides the opportunity to receive payments and micro-financing
• It helps provide lower cost and faster payment options to agro commerce individual