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Farmers Worldwide Are Now Seeing Blockchain’s Real Advantages

Farmers are beginning to see the potential of new technology, including blockchain, as a solution to supply chain problems in the industry.

Although farmers are sometimes skeptical towards tech solutions coming from an industry steeped in traditional methods, more of them are taking the plunge given the obvious advantages of blockchain’s supply chain clarity and accountability.

Around the world, growers are finding success in change. From Queensland cane growers tracking the movement of sugar around Australia, to growing and tracking organic rice in Cambodia, and cocoa in Ghana, blockchain is providing farmers with a way of tracking their products from field/farm to table.

Organizations such as Olam Farming Information System offers transparency for small farmers in 21 countries around the world. With 100,000 small hold farmers now registered with OFIS across Asia, Africa, and South America, the organization has developed a system which allows easy access and information sorting for the user to get to know more about the farming communities who supply their ingredients.

In mid-2017 Af Funder calculated a potential $213 million was there to be accrued by farm management software and IoT start-ups due to rising interest within the industry. Most development in the industry has been in traceability solutions which many smaller producers have already adopted.

However, there is the potential for blockchain to operate in the farming industry on a much larger scale, such as the French supermarket giant Carrefour’s blockchain project which began tracking its chicken supply earlier this year. This provided customers with an egg to table history by using a smartphone to scan a code on the packaging to obtain details on each stage of production, including origins, earlier location, feed and where the meat was finally processed.

The potential to cut down on an illegal harvesting and shipping fraud are other advantages. A new project in Kerala in India’s deep south will now be ensuring that goods now include RFID tags and the use of IoT devices to monitor transportation and delivery, primarily of milk, vegetables, and fish. All components of the milk supply chain will be strictly monitored and recorded on the blockchain.

Projects like this are making illegal trading far more difficult; the cost of food fraud has now reached an estimated $40 billion a year according to the UN.

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