May 22, 2023


by Soham Panchamiya and Pankhuri Malhotra

in Articles
Blockchain technology is increasingly being used in the agricultural sector to bring efficiency and traceability to the food supply chain. InsightAce Analytics predicts that the market for blockchain in agriculture will be worth over $7 billion by 2031, with a compound annual growth rate of 43.76%.

The adoption of blockchain in agriculture ensures the highest degree of transparency and traceability for all participants, from farmers and producers to retailers and exporters, and provides accurate and up-to-date data for analysis purposes. This technology can also help regulatory compliance and reporting, simplify the distribution of certification data among relevant parties, and enable better management of land rights and food safety tracking.

Agricultural companies can use permissioned and permissionless blockchain solutions, such as IBM Food Trust, Farmsent and Dimitra.

Blockchain technology combined with artificial intelligence, satellites, and the internet of things can revolutionise the agricultural sector by increasing transparency, traceability, and efficiency. This technology offers major opportunities for improving supply chain management, regulatory compliance, and land rights management, while digital solutions like Dimitra’s Connected Farmer app can provide farmers with valuable data to make smarter decisions and increase sustainability.

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