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Opportunities of Blockchain for agriculture

Opportunities of Blockchain for agriculture

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SUMMARY

Blockchain technology has many advantages for agriculture and food supply chain as it offers a secure way to conduct transactions among various untrusted parties which is an essential aspect in these supply chains.

This report examines the opportunities that blockchain technologies offer to the agriculture sector and is accompanied by plenty of examples of applications of this technology in the industry.

The paper offers an introduction into the blockchain, its characteristics, and types, including public permission systems and private ones. Regarding its regulation, it adds that many of the legal frameworks in place can be applied to blockchain technologies. It also examines all the different blockchain-related projects and policies developed by the European Union.

Blockchain presents many benefits for the companies that digitized their supply chains but doesn't come free of challenges either. The paper reports that global supply chains involved many different stakeholders that might not want to share their data and limit the collaboration level required. Compared to traditional databases, blockchain is much more secure but not completely immune to certain types of cyberattacks. Also, the legal status of blockchain transactions still needs further developing. There are also concerns around data privacy, the report adds, as many countries are imposing measures to restrict or limit data flows.

OUTLINE

Blockchain - Emerging digital technology

Regulation and policies

Blockchain in agriculture

Challenges

The future ahead

Annexes, Glossary, Resources

DETAILS

Overview

Researchfinder Rating
5 out of 5 stars
Title
Opportunities of Blockchain for agriculture
Region
Global
Published
May 15, 2019
Publisher
Brussels Rural Development Briefings
Author(s)
Chris Addison, Isolina Boto, Thomas Heinen, Ken Lohnet, GIZ, Microsoft
Price
FREE
Language
ENGLISH

Content

Number of Pages
41
Number of Tables
5
Number of Exhibits
0
Topics
blockchain
Tags
agriculture, blockchain, Brussels Rural Development Briefings, cryptocurrency, data protection, ethereum, europe, European Union, financial services, privacy, regulation, smart contracts, transportation
Companies mentioned
Accenture, Microsoft, Avanade, Cargill, Walmart, Carrefour, Coca Cola, Alibaba, Coop, Starbucks, Nestle, Mastercard, Accenture, BBVA, Louis Dreyfus, Maersk
Author(s)
Chris Addison, Isolina Boto, Thomas Heinen, Ken Lohnet, GIZ, Microsoft
Methodology
Not available.
EVALUATION

What makes this report highly value is the inclusion of plenty of use-cases and examples of the use of blockchain in agriculture.

Positives:

  • Great applications of blockchain in agriculture
  • Excellent examples of the use of smart contracts to make official processes related to registering land more efficient
  • Interesting examples of the use of blockchain in agriculture and financial services
  • Great examples of blockchain in transport
  • A very specific focus on the agriculture sector
  • Well-structured argumentation
  • Includes a glossary and links to further resources

 

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