Blockchain and Farming: How can it Transform the Sector?

Published Apr 18, 2023

What is Blockchain and How Does It Work?

Blockchain is a ledger of accounts and transactions that are written and stored by all participants. It creates a reliable source of truth about the state of farms, inventories and contracts

Why Blockchain Matters for Agriculture and Food Security?

Blockchain can track the provenance of food and help create trustworthy food supply chains. It can also help build trust between farmers and consumers.

Blockchain can facilitate the collection and sharing of data on farm conditions, crop yields, soil health, water usage, etc. It can also enable smart contracts that automate payments and incentives based on performance.

How Blockchain Can Enhance Supply Chain Transparency and Traceability.

Blockchain can provide a real-time information on the location, status and condition of food products throughout the supply chain.

How Blockchain Can Facilitate Trade and Inclusive Growth

Blockchain can reduce transaction costs and risks for farmers and traders by eliminating intermediaries and paperwork. It can also increase access to markets and finance for smallholder farmers and marginalised groups.

Blockchain in Agriculture: Examples and Success Stories.

Some examples include AgriDigital, IBM Food Trust, and TE-FOOD.