Can Blockchain be used for Agriculture?
We all know that Blockchain is the technology that made bitcoin possible. In earlier, blockchain is only used for financial transaction and to support cryptographic money transaction. Bitcoin can also be used in a variety of areas including agriculture. Let us discuss blockchain in agriculture and how it is being used
Blockchain can be used in agriculture for Different Purposes
- Crop and Soil Monitoring.
- Warehousing and Distribution.
- Retail and Marketing.
These are the main areas in agriculture where blockchain technology can be implemented.
- Crops and Soil Monitoring.
Agriculture plays a crucial and important role in the economic and people survival in India. The purpose of using implementing Blockchain is to provide a cloud-based Crop and soil monitoring system. This is introduced to help the farmer to increase the cultivation of the crop, thus increasing the production. The soil can be tested using many devices to measure the humidity, temperature, pH level and etc. All the collected information are normally collected as documents and analyzed manually. The results can be stored in a decentralized network where the data can be further analyzed to improve the crop cultivation.
IoT sensors and devices are used to generate data which can be used to analyze the method on how the crops need to be treated. The data collected from various sensors are first processed and structured before storing that information to the blockchain network.
2. Warehousing and Distribution.
The main problem that will occur after the crops are yielded is storing. Crops are stored in a place where temperature level and humidity need to monitor in real time. There are many cases reported about the food items or the vegetables stored in the warehouse got damaged because of bad weather and climate. There are devices that can monitor the temperature of the rooms and maintain accordingly. This information can be collected and stored in the network for analyzing productivity. Another area where blockchain is useful is where the goods distributions are taking places. We all know that foods need to be transported without any delay and accurate and timely distribution of food is a must in this industry. The transportation of goods can be analyzed and recorded using blockchain technology. Both the distributor and the manufacturer can monitor the current status of the food being transported and keep a record of it. It can be used as supply management where each staged of transportations is recorded. When blockchain in supply management is implemented it can possible to bring the trust between the customer and the supplier and can easily understand the origin and the quality of food being
consumed by the customer. It will also ensure the food safety for everyone can reduce the food frauds.
3. Retail and Marketing
Once the crops are processed, it is very difficult to find the right wholesaler to get a fair price. The middleman always buys the product from farmers for a cheaper price and they will then sell it to the wholesaler for a better price. It is the middle man who always gets the profit. When blockchain has introduced the farmers can easily find the right wholesaler and get a fair price by implementing blockchain technology and can avoid the middle man.It is done by using smart contracts using blockchain. Smart contracts can be used to eradicate the middleman completely. Therefore, the farmer would be able to receive a better price. The auditing can also be made simple and effective, Each transaction is recorded in the blockchain network and it can be analyzed in real time. The information stored in the blockchain network is termed as secure and immutable instead of collecting reports from the manufacturer or from the auditor can directly analyze the data stored in the blockchain network. The audit can also be automated which will make a cost-effective audition
The blockchain is still in development mode and there is a long way before the applications are implemented in various area.
