- Blockchain can improve the agricultural supply chain’s traceability, transparency, and efficiency.
- Blockchain can be used to digitize land records and property rights.
- According to a recent report by the World Economic Forum, blockchain could contribute $100 billion to the agricultural sector by 2030.
Many global concerns require a collective effort to address them. Blockchain technology can accelerate primary goals such as eradicating poverty and promoting inclusive economic growth.
Blockchain technology has transcended its origins in cryptocurrencies and has found new horizons in transforming various industries.
As blockchain technology increasingly integrates into various sectors, including agriculture, many blockchain companies can help achieve the UN’s goals. These goals are about stopping poverty and hunger and ensuring enough food for everyone. They also want farming to be eco-friendly and provide jobs.
This blog will explain how blockchain helps with these goals. It makes farming fairer and more sustainable, following the United Nations’ plans for a better world.
Blockchain in Agriculture
Blockchain’s potential in agriculture is immense, as it addresses key challenges the sector faces.
We dissect its applications, including:
- Traceability of Food Products
Blockchain is like a digital food diary. It notes important details like who grew the food and when it was harvested. So, when you purchase food, you can use your phone to look up its background and ensure it’s safe for consumption.
- Transparency in Agricultural Data
Blockchain provides a secure platform for recording and sharing agricultural data, such as crop yields, weather conditions, and farming practices.
They can use this data to share honest information about things like how crops are growing and what chemicals are being used. This helps everyone make better decisions.
- Efficient Agricultural Supply Chain
Blockchain technology creates a shared and synchronized database for farmers, truck drivers, and stores in the agricultural supply chain.
This enables automated processes, like smart contracts, that trigger actions (like payments or quality checks) when certain conditions are met. This makes sure food gets to stores faster and with less hassle.
- Digitization of Land Records
Blockchain offers a secure and transparent way to manage land records and property rights.
Land ownership and transaction history are stored on the blockchain, eliminating the risk of fraud and disputes, so if a farmer owns the land, it’s on record forever. This can make it easier for farmers to prove land ownership and access financial services.
Blockchain and the UN’s Sustainable Development Goals
The alignment between blockchain technology and the UN’s SDGs is noteworthy.
We will find out how blockchain can contribute to the United Nations’ Sustainable Development Goals (SDGs):
SDG 1: No Poverty
Blockchain can help achieve this goal by enhancing financial inclusion.
Through blockchain-based digital identities and secure transactions, individuals in underserved areas can access banking and financial services, helping them save money and build assets.
SDG 2: Zero Hunger
Blockchain can improve the transparency and traceability of the food supply chain.
By recording data about food products’ origin, quality, and distribution, blockchain can help reduce food fraud, ensure fair payments to farmers, and enable efficient distribution to needy areas.
SDG 12: Responsible Consumption and Production
Blockchain can promote responsible practices by enabling transparent supply chains. This means consumers can verify the sustainability and ethical practices behind their products.
Manufacturers can also use blockchain to track resource use, waste generation, and emissions, thus encouraging better environmental practices.
SDG 15: Life on Land
Blockchain technology can help conserve land resources and wildlife. Maintaining secure digital land ownership and transaction records lowers property disputes, unlawful deforestation, and land degradation.
Moreover, blockchain can be used to monitor wildlife and ecosystems, aiding in conservation efforts.
In closing, we encourage you to watch how blockchain is changing farming.
The potential for innovation, collaboration, and a positive impact on livelihoods and the environment is boundless.
As we move towards a greener future, blockchain will keep making farming better and more eco-friendly, ensuring our food is delicious for everyone.