How Blockchain Would Work in the Grain Industry

Jul 23, 2019 at 12:03 PM CST
If you believe the latest hype about technology, you’d think that blockchain technology (BCT) is going to transform every business by next Wednesday. Of course, that’s not the case, but the agrifood system seems custom-designed for the technology. More and more food products are branded and accompanied by a variety of certification schemes. For instance, organic production is concerned with verifying sustainable practices. Without verifiable and data rich assets, unqualified counterfeit products with high-quality claims, move across supply chains. Envision an agrifood system, with all of its legacy technologies, but operating as a common database, a backbone, that all participants in an industry (or a supply chain) can access, read and write to. BCT seems to be a logical choice for verifying practices with verified data.

Jul 23, 2019 at 12:03 PM CST

If you believe the latest hype about technology, you’d think that blockchain technology (BCT) is going to transform every business by next Wednesday. Of course, that’s not the case, but the agrifood system seems custom-designed for the technology. More and more food products are branded and accompanied by a variety of certification schemes. For instance, organic production is concerned with verifying sustainable practices. Without verifiable and data rich assets, unqualified counterfeit products with high-quality claims, move across supply chains. Envision an agrifood system, with all of its legacy technologies, but operating as a common database, a backbone, that all participants in an industry (or a supply chain) can access, read and write to. BCT seems to be a logical choice for verifying practices with verified data.