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Contract

Dextools

Summary

BLOCKCHAIN TECHNOLOGY IS A DISRUPTIVE TECHNOLOGY THAT CHANGES BUSINESS AND SUPPLY CHAIN MODELS.

Description

Potential for blockchain and food is massive. There are many advantages to usage of blockchain in the agricultural field. Transparency is the major problem in the agriculture industry. Consumers and farmers are not aware of the market price, demand, and availability of goods in the area. There are a lot of middlemen involved in the process of buying and selling goods. The involvement of middlemen makes the process more costly and complex. With the use of blockchain technology, it will help both consumers and farmers to connect directly without any involvement of middlemen. All the data is uploaded on the blockchain and is visible to everyone. Consumers can directly see the availability of goods in the area. This will help in prevention of food fraud, false labelling, and chain of middlemen. Blockchain helps solve the problem now consumers can buy food from anywhere by knowing the exact time of harvesting and where it comes from.

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