Bitcoin Global News (BGN)
March 19, 2019 -- ADVFN Crypto NewsWire -- The U.S. state of
Colorado continues a string of blockchain technology related
advancements with new research going into how the technology could
be applied to agriculture in their state. Blockchain is widely
known for its applications to the supply chain industry, where it
can combine data for the transition of products from the supplier
to the customer with payment as it moves along.
Along with other emerging
technologies such as AI and IoT, a blockchain network can vastly
reduce the traditional workload for traditional industries still
processing physical receipts and using bank transfers that can take
up to one week to clear. The state of Colorado is making a fairly
general attempt at bringing the potential benefits to agriculture
in their state with a new bill, but outlines several of the most
pressing concerns:
“Study of
potential applications for blockchain technology
in agricultural operations”
(a) traceability of product
origin from farm to shelf
(b) inventory
control
(c) monitoring of in-field
conditions, including weather, soil quality, and the functioning of
irrigation equipment sensors
(d) maintenance records for
production and transportation equipment
(e) data verification and
certification of organic products
(f) tracking and
ordering of input resources such as fertilizer and seed
(g) asset exchange, including
payments for sales and storage of products
https://leg.colorado.gov/sites/default/files/documents/2019A/bills/2019a_1247_01.pdf
Essentially the most broad
applications of blockchain technology can be focused in on the most
vital aspects of the everyday functions of moving agricultural
products from the field to the consumer. Using a blockchain
network, the newest technologies for sensors that track the details
of a product’s environment such as temperature and humidity can be
broadcast live to a public network so that there is complete
transparency in the supply chain.
For products that pertain to
certain certifications, such as organic produce, use of a
blockchain network can provide even further assurance to the
customer. Just like the technology is being used to prevent
counterfeit products, the same processes will be used to make
sure that agricultural products are what they portend to
be.
By: BGN Editorial Staff