The Potential of Blockchain in Farming
Blockchain technology, the backbone of cryptocurrencies, has potential applications in agriculture that could revolutionize efficiency and transparency. Imagine farmers tracking every stage of their produce’s journey from farm to table with unrivaled accuracy. However, realizing this potential isn’t as simple as just flipping a switch; there’s a significant infrastructure gap that needs to be addressed.
Infrastructure: The Invisible Roadblock
Bridie Ohlsson, the CEO of Geora, a digital agricultural infrastructure provider, expressed a challenge that may sound familiar:
“Hey, your product looks great, but I don’t have internet on-farm.”
That’s right. Without a reliable digital infrastructure, the fruits of blockchain technology remain just out of reach for many farmers. So, while the technology is poised for a big splash, the pool needs to be dug a little deeper first.
Large Corporations vs. Small Farmers
Interestingly, the blockchain narrative has been largely dominated by large corporations. According to Ohlsson, “Most DLT pilots have been multimillion-dollar experiments for vertically integrated companies.” Farmers often find themselves left out of the action, watching with envy as the big players harvest the benefits.
It’s crucial for the smaller players—especially farmers who comprise a breathtaking 570 million globally—to get the same access. Without creating an affordable and less technical entry point, the promise of democratization fades faster than pumpkins after Halloween.
The Future Looks Bright
But wait—hope isn’t lost! Ohlsson believes that as technology advances, the costs are decreasing, making it possible for more farmers to join the blockchain revolution without the need for a hefty investment upfront. She optimistically claims, “I think that it’s shifting, and I think that puts us in a good position now.”
Certifying Provenance: A Growing Trend
In the grand scheme of things, Australia is already grappling with substantial losses due to fraudulent claims about food and wine originating from the country. Amidst these challenges, several firms are investing in blockchain solutions to verify provenance and optimize savings throughout the agricultural supply chain.
Companies like BeefChain and AgChain are leading the charge, bringing innovative tracking solutions to the industry. And with community support rolling in, we might just see the technological tide turn into a tidal wave of change across the sector.
