You’re a cattle owner, and you want to know how this blockchain thing works. What’s it about? The State of Nebraska is working towards finalizing a blockchain infrastructure that will allow for the tracking of livestock through their lifecycle.
This will include where the animal was born, what feed it was given, and any other pertinent health information. Alongside recent Microsoft health tracking hardware innovations, this Blockchain technology will also enable IoT tagging and QR codes to provide proof of ownership during inspections at slaughterhouses.
Blockchain is a distributed ledger technology that is used to create an immutable ledger of digital assets or transactions. It has been steadily gaining traction in the agriculture industry as more people are looking for ways to track their food supply chain with more accuracy than ever before. Blockchain offers the opportunity for data sharing across all stakeholders in the supply chain from farmer to consumer while also providing an audit trail for regulatory compliance and transparency.
There are many benefits associated with using blockchain in agriculture including:
-Increased trust between stakeholders as data cannot be altered once entered onto the blockchain
-Secure data storage
-Reduced costs related to fraud or errors on paper records
-Elimination of duplicate paperwork resulting in less time wasted on administrative tasks