The system that’s slowly revolutionizing how we deal with currency transactions is also on track to revolutionize another integral part of our daily lives: food. More specifically, where it comes from.
In an age when people are more and more concerned about the source of their fruit, meat, vegetables and dairy,
and amid frequent threats of harmful pesticide use and non-sustainable production methods, blockchain is a potential solution. Using the same system that protects and verifies cryptocurrency transactions with a set of transaction specific “keys” required from both the sender and receiver, food supply chains can potentially be tracked in a similar fashion. Blockchain’s capability of tracking ownership records, combined with the tamper-resistance technology, can be used to solve problems surrounding safety recalls, food fraud, inefficiencies in supply chains and many other urgent issues surrounding food traceability in a world where food is now often sourced globally.
The information passed along the supply chain line via blockchain has the potential to allow commercial farmers to connect with their customers in the way that farmers selling their
produce at local farmers markets might, a way to engage with consumers and give them more information about their food and the way it’s grown, raised, or produced.
On top of the benefits to the consumer, the ease with which decentralized financial transactions can be completed globally open up near-limitless potential in assisting smaller, non-corporate farms with moving their products around the world using blockchain authentication. Not just farmers either; small businesses everywhere, as long as they have access to the internet, have new opportunities to engage consumers near and far using cryptocurrency transactions and blockchain authentication. Imagine using bitcoin trading to buy coffee straight from a farmer in guatemala!
Some of the largest food companies in the world have started to explore the potential blockchain presents to their supply chain line, and the trickle-down of technology will be inevitable. Despite the challenges adapting to any new technology, it is clear that cryptocurrency trading and blockchain authentication will have a top to bottom impact on food supply chains. It has the applications to not only solve existing issues with food supplies, but also provide consumers with the information to make more informed decisions about what they’re buying in general.
There’s never been a better time to jump into the fascinating world of cryptocurrency trading, essentially the future of financial transactions. Thanks to our user-friendly trading platform, complete with our tap to trade features, it’s easy to dip your toes into the multifaceted world of blockchain and cryptocurrency. Don’t just watch out for the latest cryptocurrency news, become a part of it!