Category Archives: Emmanuel Macron

Auto Added by WPeMatico

Should Governments Back DLT Agricultural Initiatives?

Blockchain tech could be the way forward for agricultural revolution.

Blockchain technology has gone far beyond its application in the financial sector. The disruptive technology, of late, has been flooding the newspapers and mainstream media for all the right reasons.

We have already seen its substantial impact in food traceability and supply chain management. Currently, as many industries are experimenting the vast inherent capabilities of the technology, the agricultural domain is also eyeing the integration of innovative technologies in its intricate supply chain. The premise on which blockchain technology is based, that is, recording of transactions in a decentralized log which is transparent and accessible to the involved parties can prove to provide essential advantages in the agricultural sector.

Ensuring food safety

Food adulteration and quality manipulation have been a constant occurrence in the agricultural sector. This increases consumer demand to know the source of the foods they buy and blockchain technology can be used to align with these demands. Consumers can, with ease in accessibility, obtain information regarding the origin of their food. Food traceability, and establishing accountability becomes easier, and this simultaneously decreases occurrences of fraudulence.

There has been significant progress in this aspect, since it is in both farmer and producer interests. This is because of the instances along the way for farmers to get their profits eaten up by those higher up the supply chain or the retailer’s brand image being tarnished by counterfeits or duplicates. Hence, blockchain technology could be a win-win situation. In fact, the fast-moving consumer goods sector (FMCG) is already seeing many companies trying to get an edge over their peers.

Establishing source and transparency

Perhaps the most prominent use of blockchain technology in the agricultural sector lies in the fact that it could provide transparency in the supply chain. There exists a highly intricate flow of resources in the agricultural sector. With this, it becomes increasingly difficult to verify the accuracy and attest to the transfer of commodities or money from the farms to the fork.

What this essentially means is that the provision of information to the involved parties in the supply chain can be manipulated to align it with the interests of certain people. Farmers do not get access to basic information of things such as the volume of their products being sold and the amount they are sold at. This ambiguity could create a sense of vulnerability among them leaving them at the hands of parties involved higher in the supply chain.

Blockchain provides a solution to this problem. It can track the information relating to the supply chain with great accuracy, without it being prone to manipulation. This means that farmers and retailers will have access to data in relation to the products and can justify any excess charge levied on them. This ultimately leads to customer satisfaction as they gain information about the foods that they consume. In addition, this transparency facilitates the smooth conduction of transactions among farmer and buyers as it increases mutual confidence. All of this significantly removes the existence of unnecessary middlemen, food adulteration and manipulation.

Optimizing payment options

It is not an unknown fact that one of the major concerns pertaining to the agricultural sector is the authenticity of the financial transactions. Farmers have to wait for long periods of time to receive money from buyers. In addition, farmers have to previously know their buyers to have the element of trust between them — a pre-requisite for them to enter into business. The transaction cost is also significantly high and can sometimes prove to be a hindrance due to their risky nature.

The adoption of blockchain technology can address the aforementioned problems. Firstly, it would facilitate faster movement of funds while being transparent. This means that the farmers would not be left wondering about due payments. In fact, Ethereum-based smart contracts could be used to immediately conduct the transaction as soon as the action is complete. This reduces the need to individually analyze and assess the trustworthiness of their buyers, which previously served as a hindrance. As a result, time and money of the farmers is protected and the chances of fraud decrease.

In addition, governmental subsidies, although meant for the benefit of the farmer, do not necessarily reach them. The transparent nature of blockchain can help in making sure that the correct allocated amount reaches the right hands at the right time.

An agricultural revolution?

The inclusion of blockchain technology in the agricultural sector gives rise to a new scenario. Previously, those who could not conduct business due to trust or accountability issues, can now do so without any concerns. This will lead to the formation of many more chains of business between the farmer and their buyers. The expansion and scope of this market is unprecedented, and could possibly revolutionize the agricultural sector.

There are many startups that have worked towards integrating blockchain technology in the agricultural sector. Agri-ledger, stores transaction data and helps in tracing back to the origin. Agri-chain helps in conducting peer to peer transactions. California-based Ripe helps in assessing quality of food which creates transparency right along the supply chain. Crop insurance is also facilitated by blockchain technology with Worldcover using satellites to constantly monitor factors such as rainfall which affect the growth of crops, and triggers instantaneous payment. Provenance has vested its funds into food safety by giving consumers access to product origin and history. In July, Aon plc unveiled a blockchain-based platform for the provision of agricultural insurance policies for smallholder paddy field farmers in Sri Lanka.

This clearly establishes the fact that blockchain technology has already started to find its way in the agricultural and food sector. In May 2019, research by Gartner, Inc indicated the major shift of global grocers towards blockchain. The research claimed that 10% of the top global food conglomerates would adopt blockchain for food traceability by 2025. As reported in March 2019, French president Emmanuel Macron urged the EU to embrace the use of blockchain technology to exploit its benefits and enhance the agricultural industry.

Agriculture, coupled with blockchain technology, has a lot of scope for expansion and adoption thanks to the plethora of functions it brings along. is committed to unbiased news and upholding journalistic codes of ethics. For more information please read our Editorial Policy here.

Follow on Twitter: @bitcoinnewscom
Telegram Alerts from

Image Courtesy: Pixabay

The post Should Governments Back DLT Agricultural Initiatives? appeared first on

Macron’s Got Problems but Blockchain Ain’t One

Macron's Got Problems but Blockchain Ain't One

French President Emmanuel Macron is seeing his popularity wane by the day due to his planned reforms for business and industry but new technologies appear to be flourishing under the current government, regardless of current discontentment.

Blockchain, in particular, has been earmarked and the latest news of IBM’s new initiatives and investments which should bring 1,800 jobs to France won’t hurt either. Nor will IBM’s new French project with P-TECH to support the disadvantages in finding work. In fact, France is on the crest of a blockchain wave currently, despite Macron’s reforms being soundly rejected. With overturned cars burning in Paris streets it seems hard to imagine that French politicians have got anything right under the current regime.

Perhaps a hint of this shifting focus towards new technologies by a Macron government was the dabbling with taxation this year, with the government finally settling on dropping the tax on cryptocurrency to 17%… for the time being. Clearly, the government doesn’t want to stifle an industry which it is now openly promoting, suggesting that it should now benefit from an EUR 500 million  state handout.

Member of the National Assembly, Laure de La Raudière, is one of those calling for the money, who sees efficiency as an end product arguing that government should follow private industry’s lead using DLT. She says: “I draw the alarm: it’s time to invest. There are not yet established positions in the world.”

She also cited the certification of diplomas or administrative documents as potential use cases. France’s Prime Minister Édouard Philippe is another sold on blockchain although taking some criticism on the subject of allowing Bitcoin to be dispersed in tabacs around France via a ticketing system. In other areas, he’s on safer ground:

“Take the example of agribusiness. To have an interesting blockchain in terms of traceability and food security, it is necessary to bring together distributors, producers, logisticians, the industrialists… And do not let only one actor manage the network as Carrefour or Casino can do today.”

Carrefour was the first to set the blockchain clock ticking with its produce monitoring program being introduced into some of its supermarkets earlier this year, a move recently followed in Spain.

The multi-party suggestion that France should receive massive financial banking to promote blockchain has occurred according to De la Raudière because she believes that she is not alone in wanting to see France as a leader rather than a follower in Europe. She argues, “France must have a conquering philosophy on the subject with the State in the first place, both as a user and federator of projects.”

Other suggestions coming from the recent parliamentary report highlight a call for the opening of bank accounts for blockchain-centered businesses which must register with the Autorité des Marchés Financiers (AMF), the French stock market regulator.


Follow on Twitter: @bitcoinnewscom

Telegram Alerts from

Want to advertise or get published on – View our Media Kit PDF here.

Image Courtesy: Pixabay

The post Macron’s Got Problems but Blockchain Ain’t One appeared first on

Regulation and Innovation, a Crypto Future in France

French finance minister Bruno Le Maire recently described cryptocurrency as a “revolution”; income tax on crypto has been axed  by the French government, and former French finance minister Christine Lagarde, now IMF head, described future international digital currency regulation as “inevitable”.

Lagarde even expressed interest in the creation of an IMF cryptocurrency last year, after comments she made about the benefits of weaker economies having their own digital currencies.

With such apparent Gallic positivity, where then, is France at this moment in time in its journey down the blockchain and crypto trail, and what lies ahead in the future?

A recent report in Coin Telegraph suggests that France is in a good position for more leadership in the crypto industry, providing that clarification of current rules is established and new legislation is brought to bear.

According to Jonathan Klein, president at Tresorio, a French-based blockchain mining and trading company, Emmanuel Macron was ahead of his peers launching discussions within France with other members of the crypto community even before his election as president. In 2017, Macron, as minister of the economy, passed a bill authorizing what could become a blockchain mini market. Klein also suggests that as a former banker and technophile, Macron could be at the forefront of driving cryptocurrency in France.

Likewise, Le Maire’s comments in Buenos Aires earlier this year, saying that “France will not miss the blockchain revolution” indicates that there is genuine interest at the highest level to continue to develop and regulate the space to promote, rather than curb, the new technology.

Clearly, the French government has not been static on the subject of regulation. In recent months a decree was published by the government related to the possibility of transferring financial securities through a blockchain. A government cryptocurrency working group was formed and new tax guidelines governing cryptocurrency were formulated.

ICOs have also been under the microscope. William O’Rorke, legal advisor at Blockchain Partner, explains:

“France is about to introduce a completely novel framework for ICOs: a voluntary visa system that incorporates much of the ‘best practices’ advocated for by the French crypto-industry. ICOs that comply with these best practices will thus be able to apply for official approval by the regulator.”

He continues, “As of today, simple things like opening a bank account can prove difficult for crypto-projects.” O’Rorke argues that the visa system will enable ICOs to interact simply with institutions such as banks who elsewhere might be overprotective to towards the client in case of cryptocurrency transactions, such as in the US.

France has recently been described as one of the most forward-looking governments in Europe. The French government’s latest announcement, to lower the tax rate for gains generated by cryptocurrencies, seems to indicate that France has set its path towards adapting to what lies ahead in the coming years, as it moves towards finding the right regulatory processes for the country’s crypto future.


*Follow on Twitter at @BitcoinNewsCom*
*Telegram Alerts from at*

The post Regulation and Innovation, a Crypto Future in France appeared first on