Lawmakers the state of Colorado in the U.S is planning to make a part of blockchain technology in the farming industry. Four policy decision makers, as well as governments from the state, jointly filed the bipartisan house bill 1247, suggesting that the official of the Department of Agriculture collects an optional group to examine the possible requests for blockchain expertise in farming processes.
The primary area of supply chains is looking for specific consideration, with many schemes having hurled to examine the following of products such as coffee, meat, milk, fish and lots.
Numerous blockchain uses were recognized by the representatives, such as refining traceability of products from farm to shelf, regulatory list and checking in-field circumstances like the soil quality and weather. Upholding records for manufacture and transport gear, confirming information and guarantee of carbon-based products, following and collation capitals like the fertilizer and seed all using blockchain is also some of the different areas that can be studied by the group.
The advantage of procurement natural food is always labeled as “you know exactly where your food comes from and who grew it. You know it’s fresh”. Meaning, no matter where it is accepted the food, you knew not only where it came from, but when it was harvested and processed, and even who produced it. Companies such as Ripe.io are functioning to resolve this very problematic. This might also go far to stop food fraud, false labeling, and terminated distributors. French President Emmanuel Macron made a loud call for augmented use of information technologies such as blockchain across the EU to boost the agriculture industry and address apprehensions over food traceability following the Polish meat dishonor.
The four largest and leading agricultural company’s plans to use technology such as AI and blockchain to get the global grain trade into the digital age. Archer Daniels Midland Company, Bunge, Cargill, and Louis Dreyfus announced in a joint press release stated that they are looking at ways to standardize and digitize international agricultural shipping transactions for the advantage of the whole farming industry.
The companies initially plan to the emphasis on mechanizing oilseed and grain post-trade procedures, which are now mainly lead manually and are a high-cost helping of the supply chain.
Soren Schroder, CEO of Bunge, said:
“We expect an industry-wide initiative of this nature to be able to accelerate improvements in data management and business processes, and bring much-needed automation to the industry.”