Agriculture is one of the most strategic sectors of the global economy. With the technological upheaval of recent decades, it has to adapt to best fulfill its role. A mission which implies for the actors to increase their credibility by improving their operational transparency. According to several analysts, the blockchain could make a significant contribution in this regard.
The ideal blockchain technology for the sector?
Technological progress has revolutionized the operational processes in the agricultural sector. To produce in quantity, effectively and efficiently, the players in this sector have had to maintain relationships of interdependence. These relationships, often opaque and complex, involve the exchange and storage of large amounts of valuable data. An operation, which regularly poses security and confidentiality problems, to which the blockchain can provide adequate solutions.
Indeed, with the great transparency that characterizes it, the blockchain is positioned as Street ideal for increasing the confidence of the actors. The use of this technology should facilitate the exchange of information between actors. Furthermore, it should stimulate monitoring, traceability of operations and above all transparency.
To make this possible, data sharing based on the use of the blockchain must be promoted. This, along the entire value chain, which is currently not the case. This is the opinion of SpringerLink platform researchers Simone van der Burg, Leanne Wiseman and Jovana Krkeljas.
According to them, transparency in the agricultural sector “It can only become a reality if farmers are willing to share their data with farms developing digital technologies.” This paradigm shift, if widespread, will have immediate positive impacts on the entire industry.
Adoption, a must?
Beyond the need for transparency and the economic stakes, the use of blockchain technology in agriculture seems inevitable.
Some supermarket companies like Heineken, Unilever or Walmart get their businesses up and running by investing in this market. This trend is expected to strengthen in the coming years.
For the World Economic Forum (WEF), blockchain will become essential if the agricultural industry wants it “meet consumer demand for transparency and support government goals to protect citizens from fraud.”
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Far from dampening my enthusiasm, a failed investment in a cryptocurrency in 2017 only increased my enthusiasm. I therefore decided to study and understand the blockchain and its multiple uses and to convey information related to this ecosystem with my pen.