Blockchain has been around for some years now but last few months have seen a great increase in popularity due to the buzz that Bitcoin created. Although its prices have come down still there are many positives to look at. In this article, we are going to put some light on how Blockchain technology will impact the agriculture industry worldwide.
The agricultural industry is huge and profitable but it is complex also. It is one of the leading job providing industry worldwide. The main issue about agri industry is the supply chain is not efficient plus there is not much transparency which makes it difficult to track the problems. Agriculture industry also has to cope with the ever-increasing demand and maintain good quality. There is no accurate way to know the impact of factors like pollution and quality of crops.
Blockchain can play a vital role in solving the above problems. The main positive of Blockchain is its transparency as the ledger is not controlled by any particular organisation. Whatever happens to Bitcoin, the technology is here to stay for long. It will affect many industries including healthcare, retail, and agriculture.
In Blockchain the information is recorded in a way that is both secure. By being open to all users these ledgers have no chance of failure. With Blockchain, we can expect improved product tracking, efficient supply and better tracing of products and fair pricing. Real-time management of the stock can be done with the help of Blockchain. Many startups are trying to reduce human error with the help of this technology. To know how Blockchain works read this.
