Blockchain cases in Agriculture
Pundi Labs (Pundi X), a point-of-sale (POS) terminal maker, has announced a partnership with blockchain startup HARA to bring its blockchain-based POS devices to farmers. The company said the partnership will seek to facilitate data collection and financial inclusion across Indonesia’s rural areas and agricultural sector.
Block Commodities, a leading Agri-Tech company in Africa, is building Farmer 3.0, a new agricultural ecosystem based on three main pillars: empowering smallholder farmers, creating a tokenised system, and developing smart agriculture.
Block Commodities is bringing African farming to a whole new level. Based on disruptive technologies such as blockchain, AI, smartphones, cryptocurrencies and data sharing, the company is building an ecosystem to enhance agricultural activity and production using a blockchain-powered platform that is integrated with machine learning, predictive behavioral analytics and data-driven marketing.
Archer Daniels Midland Company (ADM), Bunge Ltd, Cargill Incorporation, and Louis Dreyfus Company (LDC), known as the ABCDs of global grain trading, are investigating blockchain to improve efficiency and transparency for customers.
The four global agricultural leaders will create an
industry-wide initiative and seek participation from agricultural stakeholders.
ADM, Bunge, Cargill, and LDC are looking to both “standardize and
digitize” global agricultural shipping transactions.
The blockchain in agriculture and food supply chains market will be worth over $400 million in the next five years, according to a new report.
Authored by Reportlinker, a report released this week “Blockchain: Agriculture Market Forecast until 2023” foresees the sector growing from its current worth of $60.8 million to $429.7 million at a compound annual growth rate of 47.8 percent.
“Blockchain technology is revolutionizing the food and agriculture sectors by enhancing the decision-making capabilities of organizations,” a summary press release reads.
Alipay and its parent company Ant Financial announced a partnership with local Chinese authorities to use blockchain for ensuring the authenticity of rice, local media report August 28.
A major player in the Chinese market, Alipay boasted 400 million users in August 2017. The company is owned by Alibaba affiliate Ant Financial.26-Oct-18 World’s 4 Largest Agribusinesses Partner To Put Grain Trades On Blockchain
Agriculture is proving to be one of the most promising sectors for the growth and implementation of blockchain technologies. The mammoth industry suffers from a number of endemic issues. Agricultural trade relies on complex relationships between farmers and retailers, as well as convoluted supply chain procedures which can complicate payments and product providence.
As demand for agricultural trade becomes increasingly international, suppliers and innovators alike are looking to bring the trade into the twenty first century by capitalising on blockchain’s distributed ledger technology. According to Global Times, the deal with the municipal government in Wuchang in Heilongjiang Province aims to stop counterfeit versions of the well-known Wuchang rice making it into the market.