What’s this about?
A blockchain is a public ledger which records and distributes immutable information, so it can be called the most secure record-keeping method ever. This preserves integrity and is ideal for procedural and transactional data.
Tillage is reassembling the Agricultural supply chain and using blockchain to manage logistics, monitor quality, determine pricing and facilitate transactions.
The Agricultural industry faces challenges related to logistics, traceability, and quality management. Blockchain is a powerful new technology that can help overcome these obstacles. For example, with blockchain it is possible to track data collected at every step in the process such as location of commodity, changes in delivery status; reducing fraud by enabling full transparency; improving logistics through better coordination; or creating new ways to market products based on their origin or journey.
Quality management and verification
Blockchain can provide a digital identity for products and their qualities, which enhances traceability and accountability in the food supply chain.
The growth in popularity of “organic” food also presents opportunities for blockchain-based solutions that could streamline organic certification processes.
Since blockchain tracks all history of an asset in a pure integrity system, we can verify the origin, participants, along the chain of supply of a commodity to assert its attributes.
Tokenization of real-world fungible assets is the answer
We are able to trade agricultural commodities by standardized prices based on their attributes if we can assign them digital assets, for example long grain rice, 5% broken once verified in the real world, tokenized and assigned ownership, can be traded as a digital asset and thus its price arises, even as a future(i.e. before the crop matures).
Reconstructing the Agricultural supply chain is going to require radical new solution and we have taken on this responsibility, blockchain is only a piece in the puzzle. Tillage is the new supply chain.