Agriculture is an important economic sector for humankind and one of the most critical industries globally that have immense potential for development by using new technologies. Given the challenges facing the agricultural industry due to climate change and population growth, blockchain technology, and farm management software are needed to improve the financial performance of farmland.
Using Blockchain technology, food production, and processing optimization significantly improve, primarily if combined with other technologies such as IoT Artificial Intelligence (AI), Machine Learning, and other High-tech brand new technologies.
The agricultural sector needs digital transformation to:
• respond to the growing need for the high-quality food;
• provide technological solutions to meet the changing needs of consumers;
• encourage sustainable agricultural practices and reduce the environmental footprint;
• reduce costs in the agricultural supply chain, etc.
The use of blockchain in peer-to-peer transactions is transparent, eliminating the need for intermediaries such as banks. Therefore, by removing the need for an intermediary of a central authority, technology changes the way trust reveals. Instead of providing faith to public authorities, consumers’ trust automatically transfers to unbeatable security and ultra-tested certified technologies.
Blockchain technology provides a functional approach to tracking transactions between anonymous participants, and attempts at fraud and failure are quickly detected. It also responds to the need for transparency and facilitates data collection.
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Read more about the use of blockchain in agriculture here: https://bit.ly/3sOFGWB
