Except you have been cooling your feet in some chilly corner in faraway Bermuda, you should already know by now that climate change is one of the world’s major concerns. As a matter of facts, it has birthed riots in the streets, making disruption in agriculture become a hotter topic than ever. The pollution of environments and depletion of the ozone layer among other hazards have been brought on by a league of devastating agricultural practices.
However, the unprecedented conundrum is being solved by harnessing blockchain technology to redesign the agricultural landscape. In this innovative agritech, projects are usually focused on enhancing global traceability, optimizing the food supply chain and the provision of crop insurance. If you want to know the firms pushing on this front, here are some of them who made a lot of waves in 2019.
Though this is a relatively small project, Verified Organic is based on the Ethereum blockchain. The startup is using the application to bring about better transparency in the organic food supply chain. Using a decentralized platform, the company is capable of tracking and tracing organic produce from when they are in the soil to when they are put on a table. Along the line, the application verifies the steps in production and distribution just as they occur.
The entire data in all the processes is stored and verified on the blockchain. It shows the date, time and geographical location that each action on the organic produce was carried out. By doing this, Verified Organic is preventing fraudulent and non-organic produce being presented as organic and free of pests. In the long run, their service ensures food transparency.
This company has based its blockchain software on the cloud and used it for the commodity management of grain produce. AgriDigital happens to be one of the very few startups doing things in such manner. Its software handles all transactions and logistics, enabling buying, selling and trading grain to become much easier. Mind you, transparency and traceability are not left out of the question.
The blockchain employed records all the information regarding the grains, manages the inventory and provides easy channels with which customers can easily communicate as per their dealings. If you are a buyer, AgriDigital’s software will provide you with a dashboard to manage deliveries of grain orders and enable you to keep tabs with the history of the products. The firm has a significant investment of $5.5 Mn, which was provided in a 2018 funding round led by Square Peg Capital.
Well, this one’s name pretty much spells out what it is doing the the agri sector. In as much as it is global and gas a decentralized marketplace, the firm is solely concerned about herbs - the rare ones. What Herbalist does is connect buyers and sellers from across the globe in an effort to ease the trade of exotic herbs - and sometimes spices. It has noticed a gap in this regard and is putting the blockchain technology into its employ to close it.
The firm cuts out the so-called intermediaries in the buying and selling process, which makes the growers of the herbs themselves stand the chance of making more substantial profits. The startup has partnered with some big names such as UPS, One Tree Planted and dpd. Be as that may, Herbalist seems to be a little behind its own timeline as the platform or marketplace is still in the works with no fixed date for its final launch.
If you were on the lookout for the largest project in blockchain agritech, there you have it. IBM Food Trust - a creation of the well-known International Business Machine - has come up with a network which is designed to allow people from all around the world involved in the global good supply chain to easily access a suite of blockchain tools. As you would guess, these tools make agribusiness easier.
For one, they have been created to increase transparency, enhance efficiency and better standardization. For two, they can help reduce waste and recapture agricultural profits in the worldwide food supply chain. Even the big firms are running to IBM Food Trust’s technology. Companies such as Nestle, Walmart, and Albertsons Companies are already in the books.
This firm brands itself as farm-to-table food transparency on the blockchain system. To the present day, TE-FOOD is one of the most successful blockchain agritech projects known in both industries. It has more than 6000 businesses using the platform, which makes it easy for organizations to make use of food identification. The service also provides these companies with data capture, data storage, data processing and the presentation of the same data.
In the short and long run, these provisions make it easy to tag and monitor the journey of the food products from where it starts to where it ends. TE-FOOD has put ink to paper on a number of noteworthy partnerships. It has joined hands with firms such as Jura, Food Trace, and Ho Chi Minh City University. Being that it is not everyday one comes across such a platform, this blockchain-powered solution could be what finally brings food fraud to a definite stop.